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Magdalena Asuncion
Magdalena is 58 years old, single and has three grown-up children who all have their own families. She has worked for the Nicaraguan Ministry of Education as a teacher for the past 22 years. She teaches at the New Horizons School which is located in Juigalpa's prison system. She is requesting her 18th loan and hopes to continue receiving loans from Kiva so that she can continue improving her home. This time she would like to buy materials to build her living room and porch. Magdalena's biggest dream is to be able to finish her house because it is what she will have to leave her children. She says that when she pays off this loan she will request another so that she can continue improving her house.
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Magdalena de 58 años de edad es soltera, tiene 3 hijos, todos mayores y con su propia familia, labora para el MINED como docente desde hace 22 años en la Escuela Nvos Horizontes ubicada en el Sistema Penitenciario de Juigalpa; esta solicitando su credito # 18 y espera seguir siendo beneficiado con el Fondo Kiva para continuar mejorando su casa, esta vez quiere comprar los materiales para construir la sala y el porche de su casa. El mayor sueño de Magdalena es poder terminar su casa pues es el patrimonio de sus hijos. Expresa que cuando cancele este credito solicitara otro para seguir acondicionando su casa.

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

  • $4,800
    Average annual income
  • 124
    View loans »
    Nicaragua Loans Fundraising
  • $24,558,975
    Funds lent in using Kiva
  • 21.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Magdalena Asuncion to buy materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2010
Listed
Jan 1, 2011
Currency Exchange Loss:
Covered
Ended:
Jun 15, 2012