Irma Del Socorro
Update on Irma Del SocorroIrma is a very hard working woman. Today, her life has given her changes that are not very positive. She separated from her husband, She changed her small business from selling tortillas, selling clothing, CDs, even a small grocery store, which, with savings, the help of a friend and financing Afodenic established and that went under from mismanagement of credit granted to customers.
She has started to work as a domestic with the desire to get ahead. Since she has three children who are students and who require a lot of care, understanding and education in this stage of adolescence. With this loan, she will begin the construction of a room that will provide better comfort for her children. The materials to buy: stone, blocks, sand, cement, iron, wooden boards to begin the work.
Lo que comienza a laborar como domestica, con muchas ganas de salir adelante. Pues tiene sus tres hijos estudiantes, el cual requieren mucho cariño, comprensión y educación en la etapa de la adolescencia.
Con este préstamo comenzara la construcción de un cuarto que le permita mejor comodidad a sus hijos, materiales a comprar: piedra, bloques, arena, cemento, hierro, tablas de madera, para comenzar la obra
Previous Loan DetailsIrma is continuing to work, but no longer in her own general store business. This is because her investment collapsed when she started to extend credit which wasn't repaid, causing the store to close. So she looked for a regular job. She has three children to educate and feed, as well as other… More from Irma Del Socorro'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