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Maria Magdalena

Update on Maria Magdalena

Maria Magdalena lives in the town of Ticuantepe. Her husband, who helps with household costs, works as a gardener for a private home. She works as an operator in a Pizzeria. Maria has worked hard to fulfill their dreams of giving their children a good education and finishing their house. With this new loan she will buy the following materials: iron rods, sand, concrete blocks, cement and gravel, to continue the work she started on her home with the previous loan. She is grateful to Afodenic for supporting her plans through the Kiva fund and she hopes they will continue to do so.
View original language description ↓
Maria Magdalena Habita en el Municipio de Ticuantepe, su esposo quien le ayuda con los gastos del hogar labora para una casa privada como Jardinero, ella trabaja como operador en una Pizzería, María ha trabajado arduamente para poder cumplir sus sueños de darle una buena educación a sus hijos y terminar de construir su casa. Con este nuevo financiamiento comprara los siguientes materiales: hierro, arena, bloques, cemento y piedrín con esto podrá avanzar un poco con la obra iniciada de su vivienda en la parte posterior, agradecida con Afodenic que a travez de Fondo KIVA la han apoyado en sus planes y espera seguir contando con el mismo.

Previous Loan Details

María resides in the town of Ticuantepe with her husband and small children. Her plan for the family is to improve living conditions. She currently works in a private home. The greatest difficulty she faces is not having enough economic resources available to buy all the building materials a... More from Maria Magdalena's previous loan »

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.

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.

About Nicaragua

  • $4,800
    Average annual income
  • 124
    View loans »
    Nicaragua Loans Fundraising
  • $24,557,075
    Funds lent in using Kiva
  • 23.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Maria Magdalena to buy iron, sand, concrete blocks, cement and gravel.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 30, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013