Glenda Elyzabeth Orozco

Thank you for your loan. It has been disbursed to Glenda Elyzabeth Orozco by AFODENIC in Nicaragua. We are excited to watch this business grow. Over the 9 months of this loan, AFODENIC will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Glenda Elyzabeth Orozco took out a loan in February in order to buy clothing to sell through her clothing and cosmetics business, and as you may remember, you helped support this loan through Kiva. Yesterday we had the opportunity to check in with Glenda and see how things have been going with her loan and her business.

Unfortunately, Glenda did not have good news for us. She has been unable to use her loan as originally intended. Her mother, who is 52 years old, broke her foot and was diagnosed with osteoporosis, and she has had to cover these medical costs with the loan.

Because her clothing business was not doing well – business is horrible in Nicaragua, Glenda noted – she has started selling Avon products in order to pay back this loan. She began selling perfume and cosmetics in her neighborhood three months ago. She said that this business has been good, and people are buying lots of gift boxes now in anticipation of Christmas. However, she is planning to return to her clothing business in December, a month when business is always good.

After she pays back this loan, Glenda intends to take out another loan that she will actually be able to use for her clothing business. She’s not going to be able to pay back her current loan on time, as a result of the circumstances, but she is working on paying it back. She said she appreciates the flexibility of AFODENIC, Kiva’s field partner that disbursed her loan here in Managua, Nicaragua, and how the institution does not charge extremely high fees when borrowers cannot pay on time.

Thank you for reading this journal update.

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