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Maria Elena

Update on Maria Elena

Marí continues working in the free zone for her family's common good. Her children are finishing the school term and her husband continues with his security guard job; they both have as a goal to make home improvements. They have been doing them through the loans and today with this new loan will begin to build a room in the rear of the house because the plan for the previous loan was just buy the building materials and now will buy the ones they still need like cement, iron rods and concrete blocks to start the project and have more comfort because now that her daughter got married they have less space and as a mother, she wants to give her the best until she has her own.
View original language description ↓
Maria sigue laborando para el bien comun de la familia, en zona franca,sus hijos terminando el año escolar, y su esposo con su trabajo en seguridad, para ambos las mejora a su casa es el objetivo,
El cual han venido haciendo atraves de financiamiento, hoy con este nuevo prestamo, comenzara la construccion de un cuarto en la parte de atrás de la casa, ya que con el credito anterior eran sus planes pero solo compro materiales de construccion, lo que terminara, de comprar lo que hace falta en cemento, hierro y bloques, para comenzar la obra, y poder tener mejor comodidad, ya que al casarce su hija, hay menos espacio. Y desea dar lo mejor como madre, para mientra ella tiene lo propio.

Previous Loan Details

María Elena is a woman who is dedicated to her work and her family. She currently works as a cook at the Rostí Pollo restaurant. Since this business generates plenty of sales, the employees must work different shifts. María Elena has been working five years to support her two children who are ... More from Maria Elena's previous loan »

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.

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.

About Nicaragua

  • $3,636
    Average annual income
  • 130
    View loans »
    Nicaragua Loans Fundraising
  • $24,035,950
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Maria Elena to buy building materials and supplies.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 28, 2011
Listed
Nov 5, 2011
Currency Exchange Loss:
Covered
Ended:
Nov 15, 2012