Abraham wants to enclose his land, so he started building a wall around his property. However, he lacks the remaining materials to finish the wall. He needs to buy cement, sand, and gravel and also pay for labor. A completed wall will provide better security against the crime that is plaguing the neighborhood. His previous loans have been the only means in which Abraham has been able to make improvements to his small modest home. It is important to enclose his land so that he can continue making improvements to his house at a later time. He is happy that he is able to achieve his objectives, thanks to the financing provided by AFODENIC.
About AFODENICThis loan is administered by AFODENIC, La Asociación para el Fomento al Desarrollo Nicaragua, a Kiva Field Partner based in Managua, Nicaragua. Founded in 1999, AFODENIC was created to promote the socio-economic and cultural development of sectors that are excluded from commercial banking. Integrating economic and human resources, AFODENIC offers affordable and adaptable financial services aimed at strengthening the family unit of their clients, who include students, producers, and micro- and small entrepreneurs from rural and urban areas. AFODENIC is a socially responsible institution engaged in society and making a positive impact on its professional partners and communities.
Supporting a borrower through AFODENIC contributes to the pursuit of innovation in mitigating poverty in Nicaragua. Visit AFODENIC’s partner page for more information.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid