Ivonne Del Socorro
Update on Ivonne Del SocorroIvonne, a merchant, is a hard-working woman with determination to get ahead day to day. She says that through her good desire to improve she works so that her family enjoys better financial conditions.
This time the reason she is requesting the loan is to buy items like chairs, tables, clothes, cosmetics, and a display case. This will help her show her customers the products that she sells by catalog. Her objective is for her business to get bigger. This way she will have greater income.
She is grateful for the trust given to her by the micro-finance entity and Kiva. They have been the means to her being able to achieve her proposed life goals.
Previous Loan DetailsIvonne sells clothes, cosmetics and perfumes. She has been in this business for two years. She started out selling furniture. She was able to have her products on credit because her husband was a carpenter. This meant that she was able to provide her customers with better prices. Ivonne ha... More from Ivonne Del Socorro'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