Mercedes Del Socorro
Update on Mercedes Del SocorroAs a single mother, Doña Mercedes was able to get her children ahead. Now, they are all independent. She now works only for herself and hopes to be able to leave a decent home to her children. She works full-time in her business selling tortillas, drinks, and baked beans. She has had this business for many years. She is requesting her fourth loan so that she can keep investing in her business. She will purchase corn, beans and fruit for the drinks. She will take advantage of the summer season, since these items are sold a great deal because of the heat. This will allow her to continue with her only source of income.
Previous Loan DetailsMercedes is an enterprising woman with three children, all of age. She is very happy to continue with her business selling tortillas, sodas, "cuajada" [milk curd], and cooked beans. This is her main source of income. She points out that with the help of her 25-year-old daughter she has been able… More from Mercedes Del Socorro'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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