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Norma Del Socorro

Update on Norma Del Socorro

As a single mother, Norma has worked hard to support her four children who, thank God, are now grown, married, and help their mother with household expenses. She continues to sell clothing. The loan she is applying for will be used to buy men's and women's clothing, cosmetics, and assorted footwear. This way, she hopes to continue to increase her income, in order to make other improvements to her home with her profits. Her priority is to finish making her house lovely. This will be possible thanks to the support of Kiva and Afodenic with their loans in installments, for which she is very grateful.
View original language description ↓
Doña Norma como madre soltera ha trabajado duro para mantener a sus 4 hijos quienes gracias a Dios ya son mayores de edad, casados y ahora ayudan a su madre en los gastos del hogar, ella siempre continua con su venta de ropa, el crédito solicitado lo utilizara para invertir en ropa de damas, caballeros, cosméticos y calzados variados, así espera seguir aumentado sus ingresos para poder hacerle otras mejoras a su vivienda con sus ganancias, su prioridad esta en terminar de poner bonita su casa, esto será posible gracias al apoyo de Kiva y Afodenic con sus financiamientos a plazos por lo que esta muy agradecida.

Previous Loan Details

Norma is still running her business selling shoes and clothes. She has plenty of orders everyday. Improving her house has been her priority and she achieved her goal thanks to her savings and loans. She was a great support for her children as they grew up. All of them are now married. She was ab... More from Norma Del Socorro'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
  • 66
    View loans »
    Nicaragua Loans Fundraising
  • $23,659,150
    Funds lent in using Kiva
  • 24.1
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Norma Del Socorro to buy clothing for men and women, cosmetics, and assorted footwear.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2012
Listed
Jan 9, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014