Update on Niger ArmandoDon Niger, 48, devotes himself to selling seafood, with more than 15 years in sales, this being his primary source of income. Among his difficulties is that of not having support from a wife; however this has not been such an impediment as to keep him from avoiding stagnation and making progress. Thanks to the financing given by the institution he has been diversifying his business's inventory which he brings from Bluefields, and increasing his sales and earnings.
His plans for this loan cycle, which is his fifth, is to reinvest in his business, buying among other products: small Nicaraguan shrimp, oysters, shrimp, lobster, fish, conchs, and sea crabs. Owing to the demand he has seen in recent months he plans to increase his sales inventory and stock up in order to increase his monthly earnings. His hope for the future is to have his own work materials in Bluefields and save on transportation costs for his merchandise.
Previous Loan DetailsNiger, who is single, has had his own business selling seafood for some time. It was his mother's business, and now it is his, being his main source of income. His merchandise is transported from Bluefields and is a fresh product of quality. His goal is to increase his sales through income fro... More from Niger Armando'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