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Mario Francisco

Update on Mario Francisco

Señor Mario lives in the municipality of Ticuantepe together with his family. He is a man who really likes to work. He has his own business. Thanks to his hard work and loans Afodenic has awarded him, he has gotten ahead. He currently needs capital to invest in his business. He wants to take advantage of the rise in the sale of his products and purchase them at a good price now. He will purchase beans, rice, sugar, kitchen products, detergents etc. In addition, he wants to expand his business.
View original language description ↓
El señor Mario habita en el municipio de Ticuantepe junto a su familia, es el un hombre que le gusta trabajar mucho, tiene su propio negocio que gracias a su esfuerzo y con creditos que Afodenic le ha otorgado ha salido adelante, actualmente requiere de capital para invertir en su negocio ya que con el alza de los productos el cual el vende quiere aprovechar y compraralos en un buen precio ahora: el comprar Frijoles, Arroz, Azucar, Productos de Cocinas, Detergentes etc. y ademas quiere aumenta su negocio.

Previous Loan Details

Mario is married, and he is a hard-working and enterprising family man. He works day to day in order to achieve his plan to improve his living conditions. He has his own business selling groceries and other things. He has encountered difficulty with the rise in prices. He started the busi... More from Mario Francisco'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

  • $4,800
    Average annual income
  • 129
    View loans »
    Nicaragua Loans Fundraising
  • $24,581,200
    Funds lent in using Kiva
  • 24.3
    Nicaragua Cordobas (NIO) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Mario Francisco to purchase groceries and other items for re-sale.
99% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 30, 2013
Listed
Feb 12, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014