Update on SilverioSilverio is a hard-working man who lives together with his wife, who is also hard-working and makes tortillas at home. They have six children, all adults, who are married and do not live with them anymore. Silverio sold basic grains, but now sells new and used clothing. He goes to sell his products on the Atlantic coast, some 450 kilometres from Managua. He will use this new loan to buy more clothes to sell, since his business is going well and he sold all of his stock. He will buy trousers, shirts, and blouses, so as to fulfil the orders placed by customers. He is a very responsible person, and, as such, when business was sometimes slow, he turned to other trades in order to keep repaying his loans.
Previous Loan DetailsSilverio continues selling new clothes and vegetables, items he sells in the Atlántico region since he’s secured customers there as well as at home. His wife is a merchant; she sells tortillas to help support the family. Their children are all married and help out their parents. Silverio has... More from Silverio'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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