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Luis is an agricultural micro-businessman. He was previously selected by these two institutions to receive a loan, which he used to tend to his crops in a better way.
Once again, Luis has turned to the Kiva loans in MiCrédito to buy bean seeds and agricultural supplies. This way, he hopes to tend to the crops and obtain a higher yield. In the future, he hopes to keep growing in larger quantities.
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Translated from Spanish by Kiva volunteer Ellen Donohue. View original language description.
Don Luis, es un microempresario agrícola quien previamente fue seleccionado por estas dos instituciones para recibir un préstamo el cual destinó para acudir sus siembras de la mejor manera. Luis, una vez más ha recurrido a los préstamos Kiva en MiCrédito para comprar semillas de frijoles e insumos agrícolas, de este modo espera acudir los siembras y obtener mayor producción. A futuro desea seguir sembrando en mayor cantidad.
MiCredito operates in both Nicaragua and Costa Rica.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
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