Sonia Del Socorro
Update on Sonia Del SocorroSonia is a hardworking woman. She is continuing with her small grocery store and tortilla sales, alongside her husband. They work together in order to get their two younger children ahead. By working without rest, they succeeded in having two of their children already be independent.
Their plans for the future are to start a tortilla and food stall on their neighborhood’s main street, taking advantage of the fact that the area is well-traveled.
She is requesting a loan in order to continue investing in her business by purchasing basic grains, meat, canned goods, soft drinks, corn and phone chargers, among other items, in order to meet her customers’ demand.
Previous Loan DetailsSonia is a small business owner. She works out of her house together with her husband. They own a small grocery store which they opened six years ago. They have been able to grow their business thanks to various cycles of AFODENIC funding which they used to increase their inventory. They also sel... More from Sonia 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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Success!! The loan was 100% repaid