Update on Reyna IsabelReyna is an entrepreneur, a single mother, and a homemaker who has a business of renting out rooms as a source of income. With her previous loan, she was able to replace the door of one of the rooms that was in disrepair. This provided more comfort for her tenants. For the upcoming year, she plans to continue making improvements to the windows and doors of each rental unit, the walls, and other parts of the infrastructure of her house that are in need of repairs.
With this loan Reyna will buy materials such as doors, windows, cement for filling up cracks, security grates for the windows and doors, and paint for the walls of the rooms. This will give her business a better appearance and help to acquire more tenants and generate income. Reyna is grateful to the microfinance organization for its assistance with developing her business and improving her family’s standard of living.
Con el préstamo comprara materiales como: puertas, ventanas, cemento para rellenar algunas partes quebradas, verjas que colocara en ventana y puerta, pintura para aplicarla a las paredes de los cuartos así dándole mejor presentación al negocio, adquiriendo mayores clientelas y generándole ganancia.
Agradece a la financiera por el apoyo al desarrollo de su negocio y nivel de vida para su familia.
Previous Loan DetailsReyna is 47 years old and the mother of six children, four of whom are already married. For the past two years, she has managed a small business renting out rooms. She previously sold natural products to earn a living.
These rooms have been improved as a result of financing from AFODENIC.… More from Reyna Isabel'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