Maria Del Rosario
Update on Maria Del RosarioMaría del Rosario, 58, has opted to continue working selling ‘fritanga’ [Nicaraguan fast-food] every night, a traditional food of the country, and lunches. Her main buyers are neighbors. Her business is the main source of income to continue supporting her two children. One of them is still attending secondary school. She and her children have figured out ways to get ahead together since María is a widow and has no other economic support. With this fourth loan she will buy a food display case and products like rice, oil, meat, vegetables, chicken and fruit to make refreshments. Her future plan is to have an eatery that’s open 24 hours and to be able to hire more workers.
Previous Loan DetailsMaría is a small businesswoman who began her business years ago selling new and used clothing, buying a variety of clothing by the bundle, beginning with savings from her work washing and ironing clothing as a home laundry service. She has had to work a lot as she does not have the support of… More from Maria 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.
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Success!! The loan was 100% repaid