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Rosario

Update on Rosario

Rosario, who lives in the town of La Union, works as a small producer in the area where he lives. He requests his 7th loan with the objective of establishing some large areas to plant tuberous roots. If there is enough, he would also like to purchase improved seed, to secure the feeding of his livestock count in the summer, along with the production of milk and meat. Later on he would like to obtain income to sustain his family.
View original language description ↓
Rosario habitante de la colonia La Union, trabaja como pequeño productor en la zona donde habita, solicita su 7mo crédito con el ojetivo de establecer unas manzanas para siembra de tuberculos y si alcanza para compra de semilla mejorada, y asegurar la alimentación de su inventario ganadero en tiempo de verano y la producción de leche y carne, y posteriormente obtener ganancias para el sustento familiar.

Previous Loan Details

Rosario is 48 years old and married. He works in farming making dairy products and has livestock, additionally he is a cattle dealer. He is applying for a 5th refinancing loan with the goal of establishing improved pasture on his farm and to increase cattle and milk production. Don Rosario ... More from Rosario'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
  • 124
    View loans »
    Nicaragua Loans Fundraising
  • $23,830,900
    Funds lent in using Kiva
  • 23.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Rosario to sow yuca root.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
May 17, 2012
Listed
Jun 20, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2013