Melania Del Socorro
Update on Melania Del SocorroMelania is married. Her husband works as a mason in a state run business. Her two oldest children, who are 23, work in sewing, and one child of 16 years is in high school and they hope will go on to higher education. Melanie continues selling clothing and shoes and also sewing. Her loans have been used to make improvements to her home. Now she is asking for a new loan in order to fix the roof of her home since the one she currently has is in bad repair. It has holes and when it rains, water enters easily, and particularly in September when the season means getting lots of hurricanes and cyclones. For this reason she will need to buy zinc roofing tiles, roofing supports, and pay for manual labor.
Previous Loan DetailsMelania is a small businesswoman and the mother of two daughters. She started a sewing business in order to help her husband who works as a mason. With the savings from her sewing business and financial support from her husband, Melania was able to invest in new clothing and cosmetics. She… More from Melania 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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