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Norma Del Socorro

Update on Norma Del Socorro

Norma is still running her business selling shoes and clothes. She has plenty of orders everyday. Improving her house has been her priority and she achieved her goal thanks to her savings and loans.
She was a great support for her children as they grew up. All of them are now married. She was able to provide them with education on her own effort.
With this new loan she will close her house's porch, where she has made a significant progress. She will purchase construction materials in order to finish the walls, as well as tiles, roofs and doors. This makes her happy because she will have a place in which to rest more comfortably with her family.
View original language description ↓
Doña Norma, continua con la venta de ropa y zapatos, teniendo muchos encargos cada dia, el mejoramiento a su vivienda ha sido su prioridad, en donde atraves de financiamiento y ahorros ha logrado el objetivo.
Como madre, ha apoyado a sus hijos, hoy en dia, casados, sola logro la educacion de sus hijos.
Hoy con este nuevo financiamiento, continuara, de cerrar el porche, en donde logro abanzar bastante, comprara materiales de construccion, para terminar de repellar paredes, embaldozado, techo y portones. Lo que esta contenta ya que tendra espacio en donde reposar mejor con su familia.

Previous Loan Details

Norma is a single mother; she has a minor son who is in school. Her dream is that her children improve themselves. A home improvement is a project that hand in hand with the financial institution will become a reality. She used to sell pork but because it was heavy labor she decided to sel... More from Norma 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

  • $4,800
    Average annual income
  • 102
    View loans »
    Nicaragua Loans Fundraising
  • $24,739,175
    Funds lent in using Kiva
  • 23.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Norma Del Socorro purchase construction materials for completely closing her house's front porch.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 13, 2012
Listed
Jan 21, 2012
Currency Exchange Loss:
Covered
Ended:
Jan 19, 2013