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Miguel Angel

Update on Miguel Angel

Miguel lives in the 380 neighborhood in the city of Managua. His partner is a housewife. His children are all younger than 18 and students. Miguel works hard to give them the best.

He continues to work in the business of buying and selling scrap such as copper, bronze, aluminum, lead, and iron. He has been in the business for approximately 10 years and it has been very profitable.

This is his twelfth loan to invest in his business by buying more scrap to continue selling. He also makes the most of it when people come to him to sell and he sells to exporters and gets better profits.
View original language description ↓
Don miguel habita en el barrio 380 de la ciudad de Managua, su pareja es ama de casa, sus hijos son menores de 18 años todos estudiantes, por los que don Miguel trabaja arduamente para brindarles lo mejor a ellos, el negocio del señor sigue siendo la compra y venta de chatarra como cobre, bronce, aluminio, plomo, hierro negocio con el que lleva 10 años aproximadamente el cual le ha sido muy rentable. Este es su 12avo crédito para invertir en su negocio comprando mas chatarra para seguir vendiendo y aprovechando también cuando le llegan a vender y el los comercializa a exportadores obteniendo mejores ganancias.

Previous Loan Details

Miguel continues with his junk business. So far he is buying more, and his sales have been successful. He has had more income for his children’s educational and health expenses. With this new loan he will buy more iron, bronze, aluminum, and copper. Then he will be meeting his customers’ de... More from Miguel Angel'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
  • 62
    View loans »
    Nicaragua Loans Fundraising
  • $23,478,675
    Funds lent in using Kiva
  • 24.3
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Miguel Angel to buy copper, bronze, aluminum, lead, and iron.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2013
Listed
Feb 2, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014