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Lenin Gustavo

Update on Lenin Gustavo

Sr. Lenin is a resident of the town of Ticuatepe, where he lives with his family. With his first loan, he was able to make improvements to the floor of his home. His plans for the future include improving his living conditions. Lenin works for a private company, but his salary is not adjusted so that he can make a one-time purchase for all of the necessary materials to build an annex at the back of his house.


He is very pleased with the support AFODENIC has provided through the Kiva funds. There are many families who benefit from these programs in which low-income people can improve their homes.

View original language description ↓
El señor Lenin , es habitante del municipio de Ticuatepe , junto su familia , con el primer financiamiento logro mejorar el piso de la vivienda , los planes hacia un futuro es poder mejorar las condiciones de vida , ya que el labora para un empresa privada y su salario no le ajusta para comprar de una sola todos los materiales necesarios para realizar un anexo en la parte trasera de vivienda .Lenin se siente muy contento con el apoyo que le brinda Afodenic atraves de los fondos Kiva ya que son muchas las familias que se benefician con estos programas de mejorar de vivienda para personas de bajos recursos .

Previous Loan Details

Mr. Lenin lives in the Ticuantepe municipality with his wife who works in a private corporation. His future plans are to finish building his home; because of his financial situation he is not able to buy all of the materials at once (tiles) since his priority is his son’s health. His son has had ... More from Lenin Gustavo'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
  • 115
    View loans »
    Nicaragua Loans Fundraising
  • $23,737,400
    Funds lent in using Kiva
  • 22.9
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Lenin Gustavo to purchase construction materials for building an annex at the back of his house.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2011
Listed
Dec 14, 2011
Currency Exchange Loss:
Covered
Ended:
Jan 19, 2013