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Ruth Del Socorro

Update on Ruth Del Socorro

Doña Ruth still has a business selling gas cylinders, firewood and cooked beans, all of which are in great demand by her customers. She gets help from her husband, who works as a farmer and driver. Their married children have higher incomes.

With this loan Ruth will continue construction on her home, putting up walls and a roof. She already has the zinc and beams for the roof but still needs cement and sand to finish the walls. Ruth has been able to do this more quickly thanks to the loan she has received from Afodenic.
View original language description ↓
Doña Ruth, sigue con su negocio de venta de tropigas, leña, frijoles cocidos, siendo muy demandado por los clientes, tiene la ayuda de su esposo que labora como agricultor y conductor, teniendo mejores ingresos sus hijos casados.
Ruth, con este financiamiento, continuara con la construccion de levantamiento de paredes, y poner techo, el cual tiene el zinc y perlines para su levantamiento, comprando solo cemento, arena para el acabado de paredes. Que ha sido posible a corto plazo con los financiamiento otorgado en Afodenic.

Previous Loan Details

Ruth has run a small grocery store selling wood and cooked beans for seven years to support her family. Her husband works on the land in agriculture. Ruth began her store with just a few products and a constant turn over of staple grains and pulses, the items that she sells the most. Now she i... More from Ruth 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

  • $3,636
    Average annual income
  • 139
    View loans »
    Nicaragua Loans Fundraising
  • $24,067,475
    Funds lent in using Kiva
  • 23.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $225 helped Ruth Del Socorro to buy cement, sand and labor to install a zinc roof.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2012
Listed
Jun 7, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013