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Saturninio

Update on Saturninio

Saturninio continues working in security, his wife continues working in the free trade zone and his children are concluding the school year. His priority has been the construction of his house and he is happy about the funding he has received. He was able to construct a concrete house, thereby acquiring improved security and stability in his living arrangements.

Today, with this new loan, he will be able to work on a wall around the perimeter, which he has already started with the material he had, and he wants to finish it in order to make his property more secure, insure against robberies and continue improving every day. This is the goal he shares with his family, which is now in a position to save and cover the basic necessities.
View original language description ↓
Don Saturninio, sigue con su trabajo en seguridad, su esposa laborando en zona franca y sus hijos terminando el año escolar, para el la construccion de su vivienda ha sido su pioridad, en donde esta contento por que con el financiamiento que hizo, pudo levantar su casa de concreto, logrando mejor seguridad y estabilidad de vivienda.
Hoy con este nuevo prestamo podra comenzar un muro perimetral, el cual ya comenzo el arranque y que quiere terminar, hasta donde alcance el material, para tener mas segura su propiedad, menos robos, e ir mejorando cada dia, es su meta junto a su familia. Ya que ambos se esfuerzan para ahorrar y cubrir las necesidades.

Previous Loan Details

Saturninio G. P. is a 43 year old man who lives in the neighborhood Laureles Sur. He is married, and his wife helps him with the income from her work as an operator in the free trade zone. They have three children who are in school. He has been working as a security guard for three years. The ... More from Saturninio'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
  • 120
    View loans »
    Nicaragua Loans Fundraising
  • $24,043,075
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Saturninio to build a perimeter wall, providing more security for his property and his family.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 2, 2011
Listed
Nov 9, 2011
Currency Exchange Loss:
Covered
Ended:
Apr 18, 2013