Fatima Del Rosario
Update on Fatima Del RosarioFátima continues with her business selling clothes, shoes, and fruit. Over the years, she has offered more and more products to her growing clientele and helping with household expenses. Her husband has his painting workshop, always helping out with expenses.
To support their efforts to make improvements to their home, they have taken out loans with Afodenic. With this new loan, they will begin construction of a side wall on the eastern boundary; they have it closed in with corrugated metal sheeting, and they want to make their property more secure.
Materials to purchase include stone, sand, cement, iron, and other products to begin the work. Fátima is happy that she has been making progress toward enclosing her whole house.
Con este nuevo préstamo comenzara la construcción de un muro lateral lindero este, el cual tiene cerrado con zinc, y que quiere dar seguridad a su propiedad. Materiales a comprar: piedra, arena, cemento, hierro y otros productos para comenzar la obra. contenta por que ha ido abanzando en cerrar bien toda su casa.
Previous Loan DetailsFátima is a clothes, fruit and vegetable merchant; she’s been in business eleven years. Her husband has a small car painting shop. He has always helped support her for the family’s common good. When she started the business she did so with the goal of helping her husband with household… More from Fatima Del Rosario'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.
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.
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Success!! The loan was 100% repaid