Update on Hermes FelipeHermes is doing better because the number of his tenants has increased since his business is renting rooms and driving a taxi. He is building a two story house that he’s almost finished with. With the loans he’s been improving the rooms. His children continue in school and his wife’s a housewife.
With this new loan, Hermes will improve the roof on one of the rental rooms providing good housing service and will also plaster the rooms on the second story and install tile flooring since these are the rooms for his personal use.
For him, it is of great satisfaction to be able to continue improving his house for his family’s wellbeing because with much dedication and effort he works daily driving his taxi to make his payments and cover personal expenses since everything is so expensive now
Con este nuevo prestamo don Hermes, mejorara el techo de unos de los cuarto que alquila, dando buen servicio habitacional, a si como repellara las habitaciones del segundo piso, pondra ceramica, siendo el de su uso personal.
Para el es de gran sastifaccion el poder seguir mejorando su casa, para el bienestar comun de su familia. ya que con mucho esmero y esfuerzo, trabaja dia a dia, en su taxi para cumplir sus compromiso de pagos y gastos personales, estando todo ah altos costos.
Previous Loan DetailsHermes is a very hard working man. He administers his own business which is a room rental and driving a taxi. He is married and the father of three daughters. He started his business with his own initiative and savings from a previous job. Thanks to loans he has been making home improvements… More from Hermes Felipe's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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