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Rita Lorena

Update on Rita Lorena

Doña Rita is continuing with her business selling confections, pizza and cakes. She has gained more customers for her business. Her goal has been to make improvements to her home, which is only partially constructed.
Doña Rita is single and her children are married. They help her financially. Rita replaced the electrical wiring in her house, which made her house safer for her family. Now she will make improvements to her bathroom and replace the sewage pipes, since they have been causing problems. This improvement is necessary to maintain hygiene in her home.
View original language description ↓
Doña Rita, sigue con su negocio de venta de reposteria, pizza, queques, en donde ha captado mas clientes, su objetuvo ha sido la mejora a su casa, el cual ha venido por parte construyendo.
Es soltera y sus hijos casados, el cual la apoyan economicamente, Rita logro terminar el cambio electrico de su casa, dando seguridad a su familia, y ahora hara mejoras en el baño, y cambio de tuberias de aguas negras, ya que le esta dando problema, y es necesario hacer la mejora, logrando mantener la higiene en su hogar.

Previous Loan Details

Rita is a hardworking woman and the mother of two children. She has been a small businesswoman for eighteen years, making and selling desserts in order to support her children financially. Using a little bit of her own money, Rita began making cakes and puddings to sell around the neighborhood.... More from Rita Lorena'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

  • $4,800
    Average annual income
  • 90
    View loans »
    Nicaragua Loans Fundraising
  • $24,770,775
    Funds lent in using Kiva
  • 22.9
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Rita Lorena to make improvements to her bathroom and to replace the sewage pipes, which will help maintain her family's hygiene.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 26, 2011
Listed
Dec 13, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 16, 2012