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Salomon
Don Salomón is a small businessman who opened his store eleven years ago using his own money. He started with very little, but he has been able to increase his capital with the help of credit opportunities with AFODENIC in which he was able to secure loans. Salomón has invested in office supplies since these products are widely used and always in demand, especially during the school year.


With this loan, he hopes to build an extension to his home that will improve his personal living conditions. He plans to buy construction materials such as stone, sand, cement, iron, zinc, crossbeams, and other items needed to perform the work.

View original language description ↓
Don Salomón es un pequeño comerciante desde hace once años, con una pulpería el cual comenzó con poco, y dinero propio.
He venido aumentando el capital con préstamos que Afodenic ha dado el cual ha logrado la oportunidad del crédito.
Invirtiendo en productos de librería ya que son productos accesibles y de rotación a si como de gran utilidad durante el año escolar.
Con este financiamiento lograra un anexo a su vivienda para mejorar las condiciones personales. En donde comprara materiales de construcción como: piedra, arena, cemento, hierro, zinc, perlines, entre otros logrando así la obra.

Additional Information

About AFODENIC

This 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.

About Nicaragua

  • $3,636
    Average annual income
  • 140
    View loans »
    Nicaragua Loans Fundraising
  • $24,079,275
    Funds lent in using Kiva
  • 21.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Salomon purchase construction materials in order to build an extension to his house.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 16, 2010
Listed
Sep 1, 2010
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2012