Check out some available loans that are similar to this one!
Margine Del Socorro

Update on Margine Del Socorro

Margine continues with her clothing and cosmetics business, as well as the sale of nacatamales (Nicaraguan steamed corncakes) on weekends. She is managing to maintain her sales.

She and her husband are trying their best to complete improvements to their house. They are building a room. The work is quite advanced and they will be able to complete it with this new loan, providing better space for their children. One goes to high school, and the other works in a motorcycle repair shop. Both are learning in order to have a better future.

To complete the work, they need to buy materials such as cement blocks, sand, cement, zinc sheeting, and perlins.
View original language description ↓
Doña Margine sigue con su negocio de ropa y cosmetico, asi como la venta de nacatamales los fines de semana, logrando asi mantener sus ventas. junto a su esposo se esfuerzan por lograr las mejoras a su casa, estan construyendo una habitacion el cual llevan bastante avanzadas, lo que con este nuevo prestamo podra terminar, dando mejor espacio a sus hijos, una estudiante de secundaria y el otro en un taller de mecanica de moto, aprendiendo para un futuro mejor. Materiales a comprar, bloques, arena, cemento, laminas de zinc, perlines, para terminar la obra.

Previous Loan Details

Margine is the mother of 2 children, and is a merchant. She sells men and women's clothing, underwear, cosmetics and shoes. She started this business a number of years ago with financial assistance provided by her husband from his work as a trucker. With the help of loans from AFODENIC she w... More from Margine Del Socorro'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
  • 144
    View loans »
    Nicaragua Loans Fundraising
  • $24,079,275
    Funds lent in using Kiva
  • 23.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Margine Del Socorro to buy construction materials for completing a room, which will provide better space for her children.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 23, 2011
Listed
Jan 5, 2012
Currency Exchange Loss:
Covered
Ended:
Jan 19, 2013