Update on SalomonMr. Salomon continues running his general store, which he does together with his wife. This has been a growing process thanks to the loans that he has received from the institution. For both of them improving their home is essential, which they are doing step by step in order not to neglect their business.
With their previous loan they added a room to the house. This time he will be able to invest in the purchase of basic grains, candies, dairy products, juices, sodas, these being the products bought more often by the customers. This will maintain the variety and affordable prices for their customers.
Con su credito anterior logro un anexo de su cuarto, ahora podra invertir en la compra de granos basicos, golosinas, productos lacteos, jugos, gaseosas, siendo productos mas comprados por sus clientes. Manteniendo la variedad y precios accesibles a su clientela.
Previous Loan DetailsDon Salomón is a small businessman who opened his store eleven years ago using his own money. He started with very little, but he has been able to increase his capital with the help of credit opportunities with AFODENIC in which he was able to secure loans. Salomón has invested in office supplies… More from Salomon'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.
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Success!! The loan was 100% repaid