Update on AlexanderSeñor Alexander, together with his wife and son, lives in the municipality of Ticuantepe. His greatest dream is to improve his quality of life and to give a better future to his family. He has made his living as a salesman for several years. With help from Afodenic, he has been able to increase his inventory, and his business has grown. He currently wants to take advantage of increased sales during the high season to improve his income a little. With the loan, he will purchase Ladies' and Men's clothing and undergarments, so he can offer a variety to his customers. Señor Alexander is grateful for the help that Afodenic, together with Kiva, has offered.
Previous Loan DetailsAlexander lives in the town of Ticuantepe with his wife and small son. His plan for his family is to improve its living conditions. Alexander has been a merchant for several years (underwear sales). At the beginning he’d buy just a little and gradually, with financing from Afodenic through the… More from Alexander'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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