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Luis Felipe

Update on Luis Felipe

Luis Felipe is 38 years old and married. His wife always helps him to support their three children by working as a stylist. He works as a master builder but finds it unstable as he receives contracts rather than a fixed salary.

He has been taking out loans to improve his house. He needs this loan to change the roof on the back part of the house. He will buy 20 sheets of zinc and supports as the roofing is old. In this way he will, little by little, build his house which is one of his main aims despite the economic obstacles and health problems he has faced. Regardless, he has always managed to get his family ahead.
View original language description ↓
Don Luis Felipe casado tiene 38 años su esposa siempre le apoya con su trabajo como estilista para sacar adelante a sus tres hijos, el por su parte con la labor de maestro de obras un empleo muy inestable ya que no es un salario fijo solamente por contrato, pero así ha ido sacando sus créditos que los utiliza para el mejoramiento de vivienda, este préstamo lo necesita para cambiar el techo de la parte trasera de la casa, comprara 20 laminas de zinc, perlines, porque ya está viejo el entechado, así ira poco a poco construyendo su casa lo cual es una de sus metas principales a pesar de los obstáculos tanto económicos como problemas de salud pero siempre ha sabido salir adelante con su familia.

Previous Loan Details

Luis is a bricklayer by profession. He continues to work every day for his family’s wellbeing. His wife helps him out working as a stylist because their objective is to build their house; he’s done quite a few improvements already thanks to his savings and loans from Afodenic. Nowadays he wa... More from Luis Felipe'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
  • 135
    View loans »
    Nicaragua Loans Fundraising
  • $24,558,975
    Funds lent in using Kiva
  • 23.9
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Luis Felipe to buy 20 sheets of zinc and supports.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 26, 2012
Listed
Jan 10, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014