Update on Fatima PetronaFátima now works as an operator for a company in the free trade zone, and she is getting better financial stability. Her work has always been sewing, a service that she continues to provide, more on the week-ends, at her house. With this she has another income for paying her expenses.
She left the workshop she worked in to improve her income. In the free trade zone they pay for overtime, and this helps her to continue supporting her son, who is in elementary school.
She has managed to improve her house upon opting for the loan, and she has a better chance of getting ahead. With this new loan she will be able to start making a wall, which is now zinc. She wishes to safeguard her property and be more careful with her son because she is not close to home.
The materials she will buy are stone, sand, cement, gravel, and wooden planks to start the work.
Ha logrado mejorar su casa, al optar al financiamiento, teniendo mejor oportunidad para salir adelante, con este nuevo préstamo podrá comenzar hacer un muro, el cual tiene con zinc, y desea reguardar su propiedad y cuidar más a si hijo, al no estar cerca de casa. Materiales a comprar: piedra, arena, cementó, piedrín, tablas y comenzar la obra
Previous Loan DetailsFátima is 35 years old and a single mother. She has worked hard to provide for her son's everyday needs and education. She makes a living selling clothing, and also works in a small tailoring workshop which increases her income by providing a fixed salary. Her goal is to save money to buy a sewing… More from Fatima Petrona'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