Update on Magda RosaMagda is a hard-working woman who, with a lot of effort and sacrifice, has advanced her children. They are now studying at university. She is helping them with university expenses. She is joining forces with her husband. He works in a slot-machine business. She continues to sell cosmetics, which is why she is applying for loan number six with Afodenic. This is support that she needs to buy more products, to keep selling more even in this Christmas season, when sales are very good. She wants to invest in vanities, perfumes, body creams, and shampoos, all for men and women. She will support her family with her earnings. She is very thankful for the help that Kiva and Afodenic give her whenever she needs it. It is very important for her economic development.
Previous Loan DetailsMagda is a modest, enterprising woman. Her children are a student and a future professional. She has had a business selling a variety of cosmetics, since she stopped working for a private company, and up to now she has been maintaining her clientele. The previous loan was of great benefit to ... More from Magda Rosa'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.
119View loans »
Success!! The loan was 100% repaid