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Miguel Angel

Update on Miguel Angel

Don Miguel is a determined and honest gentleman. He continues to work in the free trade zone as a machine operator, but one of his future goals is to find a better job next year. Miguel and his wife strive to gradually make improvements to their home, but the high cost of materials and their other household obligations have made it difficult for them to complete the construction of their humble abode.


For this reason, Miguel has come to AFODENIC once again to seek funding for these improvements. His plan for this new loan is to install ceramic flooring in his home, which will provide better living conditions.

View original language description ↓
Don Miguel caballero luchador y honesto. Continua laborando para una zona franca desarrollandose como operario de maquina aunque una de sus aspiraciones es optar a un mejor empleo para este año venidero. El junto a su esposa han luchado para ir poco a poco realizandole mejoras a su hogar pero debido a los altos costos de los materiales y demas obligaciones que tienen que cubrir en su casa se le ha tornado dificil finalizar la construccion de su humilde morada, razon por la que acude una vez mas a Afodenic que ha sido el medio que ha proporcionado estas mejoras. Sus planes con esta nueva oportunidad de credito es la instalacion de ceramica en su vivienda, logrando con ella mejores condiciones de vida.

Previous Loan Details

Miguel is married. His wife works and his children study. Miguel's main priority is that his children get an education. He plans to improve the infrastructure of his house little by little. Miguel has worked as a machine operator for a long time. He is grateful for the loan because he needs to get… More from Miguel Angel'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
  • 70
    View loans »
    Nicaragua Loans Fundraising
  • $23,442,100
    Funds lent in using Kiva
  • 23.3
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Miguel Angel to install ceramic flooring in his home.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 28, 2012
Listed
May 22, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013