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Rosa Elena

Update on Rosa Elena

Rosa now sells her food in a market in Managua where most of her customers are. She works more than before because now that she's single she has to take care of her kids. Her main focus is for them to finish their schooling. She asks for this, her 8th loan, to buy products for her business like meats, rice, beans, fruits, vegetables and seasonings. Thanks to these loans she has been able to move forward with her children's education and make a few improvements to her house. For that reason she is very grateful for the constant support given to her by Afodenic and Kiva.
View original language description ↓
Doña Rosa ahora vende su comida en un mercado de Managua en donde está la mayor parte de su clientela, trabaja más que antes ya que es soltera tiene que mantener a sus hijos y su principal enfoque es que ellos culminen sus estudios profesionales, solicita este octavo crédito para comprar productos para el negocio como carnes, arroz, frijoles, frutas, verduras, sazonadores, gracias a estos préstamos ha podido salir adelante con la educación de sus hijos y mejorar un poco su casa por lo que está muy agradecida por el apoyo constante que se le brinda por medio de Afodenic y Kiva.

Previous Loan Details

Rosa continues to sell meals in the streets from her cart, courageously pushing her supplies various kilometers. She is a single mother with 3 children in school. Rosa also sells meals in her house, but she sells more in the streets. That is why she works so hard every day. Rosa's goal is to c... More from Rosa Elena'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 Nicaragua

  • $3,636
    Average annual income
  • 63
    View loans »
    Nicaragua Loans Fundraising
  • $23,461,725
    Funds lent in using Kiva
  • 23.9
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Rosa Elena to buy meats, rice, beans, fruits, vegetables and seasonings.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 17, 2012
Listed
Jan 1, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2014