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Fabio Benito

Update on Fabio Benito

Fabio is 30 years old and he is a hard worker with his own initiative. After working for a mobile phone business in our country, he came up with the idea of creating his own small business. This is why for the last four years he has made a living from the sale of mobile phones and accessories, enjoying his own shop in our capital Managua, which he has been able to sustain through his hard work and loans from Afodenic.

This new loan will help him buy mobile phones, accessories, hands-free headsets, micro memory cards, cases, protectors, USB cables, among other products. This way he can grow his business with new products and be able to compete in this market.
View original language description ↓
Fabio de 30 años de edad, emprendedor y con iniciativa propia, ya que luego de formar parte de una empresa de telefonia celular de nuestro pais, nace la idea de crear su pequeño negocio, es por ello que desde hace cuatro años se dedica a la venta de telefonos celulares y accesorios, gozando de su propio local en nuestra capital Managua, local mismo que lo ha podido sostener mediante esfuerzos y los financiamientos prestados por Afodenic. Este nuevo credito lo ocupara para realizar las compras de telefonos celulares,accesorios,manos libre, memorias micro,carcasas,protectores,cables usb entre otros articulos y de esta manera engrandecer su negocio con nuevos productos de mercado y estar dentro de la competencia comercial.

Previous Loan Details

Fabio, 28, is married and has had a regular job working as an electronics technician supervisor for 4 years. He has managed to rent 2 rooms, which has helped him economically. With his wife he has a son, and he wants to provide him with an education. The rooms were built in partnership with… More from Fabio Benito'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 Nicaragua

  • $3,636
    Average annual income
  • 76
    View loans »
    Nicaragua Loans Fundraising
  • $23,416,850
    Funds lent in using Kiva
  • 23.2
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Fabio Benito to buy mobile phones and accessories.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 24, 2012
Listed
Mar 19, 2012
Currency Exchange Loss:
Covered
Ended:
May 17, 2013