Update on Luis ManuelDon Luis continues with his business as a wholesaler of basic grains. He uses a truck to transport his products to wherever he buys and sells. Luis already has buyers so he is able to generate sales easily. He buys his products at low cost in the Department of Jinotega, where these crops are cultivated on fertile land and with plenty of water. As a result, he is able to buy these products in increased quantities. By taking out a loan with AFODENIC, Luis is able to work with more capital. In addition, he has a truck to use for transport and an established entrance into the marketplace.
With this new loan, Luis will be able to buy 23 quintals (1 quintal = 46 kg) of red beans and 48 quintals of white corn so that he can satisfy the demand of his customers. He will deliver the products by himself. By generating good profits, Luis will be to cover his personal expenses and his loan payments.
Con este nuevo prestamo podra comprar 23 quintales de frijoles rojos, 48 quintales de maiz blanco, logrando cumplir con la demanda de sus clientes, ya que solo va entregar el producto.generandole buenas ganancias para cubrir sus gastos personales como sus compromisos de pago.
Previous Loan DetailsLuis works in transportation and has had his own business for more than 5 years. Before he worked as a naval engineer. With his settlement and a loan from Afodenic he has been able to increase the number of basic products that he buys, and improve his sales in the departments. He also has fixed i... More from Luis Manuel'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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