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Magdalena Asunción
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Mrs. B. U., primary school teacher, single mother of 3 married older children, to support herself she has worked as a primary school teacher in the New Horizons School located in the Penitentiary System of Juigalpa for 6 years for a low entry level salary, in addition she sells cosmetics to coworkers and colleagues, this has enabled her to succeed in this stage of her life. Nowadays she runs her business in a traveling manner selling products (perfumes, creams, lotions, etc.) a few years ago she decided to begin this business to obtain another income to support her home since she is a single mother and has been able to further her family while playing a double role as mother and father to her 3 children, with this loan from AFODENIC she will be able to consolidate and strengthen her inventory and be able to continue this activity as a work alternative that will allow her to achieve more goals in her life.

Translated from Spanish by Fallon Shields, Kiva Volunteer.

La Sra. B. U., maestra de educacion primaria, soltera, madre de 3 hijos mayores casados, para su autosostenimiento labora como maestra de primaria en la Escuela Nuevos Horizontes ubicada en el Sistema Penitenciario de Juigalpa desde hace 6 años por el bajo ingreso salarial del sector , adicionalmente vende cosmeticos a compañeros de trabajo, colegas y clientela domicialiar, lo que le ha permitido salir adelante en esta etapa de su vida.

Actualmente ejerce su negocio de forma ambulante vendiendo productos (perfumes, cremas, lociones, etc), decidio emprender este negocio para obtener otros ingresos despues de su salario para sostener su hogar ya que es soltera desde hace varios años habiendo logrado sacar adelante a sus hijos teniendo doble roll familiar, de padre y madre en la formacion de sus 3 hijos; con financiamiento de AFODENIC ha logrado consolidar cierto inventario, el que pretende reforzar con la presente solicitud de financiamiento y mantener esta actividad como alternativa de trabajo que le permita lograr nuevas metas en su vida.

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.

About Nicaragua

  • $3,636
    Average annual income
  • 119
    View loans »
    Nicaragua Loans Fundraising
  • $24,043,075
    Funds lent in using Kiva
  • 19.1
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Magdalena Asunción to purchase perfumes, creams and lotions.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
May 12, 2008
Listed
Apr 15, 2008
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2009