Mercedes Del Socorro
Update on Mercedes Del SocorroMercedes del Socorro is married and has 2 grown children. She lives in the City of Chinandega. She is a hardworking woman who strives for personal success. She has a business selling general merchandise, such as clothing, in a variety of styles for adults and children, and she also sells a variety of styles of shoes. Also, on the weekends she sells chicken soup with meatballs, beef, and tripe. She's had this business now for a number of years. She sells her products from place to place and from her home. She has regular and occasional customers to whom she offers her products for cash or credit, collecting on a weekly basis.
Mercedes' goal with this loan is to invest more in her business, since with the good service and variety of products she offers, her customer base is growing and there is more demand for her business. Mercedes thanks the Kiva lenders for the help that they are providing to low-income people in poor countries such as Nicaragua, so that they can have a decent means of work.
Previous Loan DetailsMercedes del Socorro is 45 years old, married and has two children who are 24 and 26 years old and economically independent. She is from the city of Chinandega. She sells merchandise, generally new and used, and recycled material like clothes and shoes. She has an experience of 15 years in wh... More from Mercedes Del Socorro's previous loan »
Fundación Leon 2000This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid