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Francisco Reymundo

Update on Francisco Reymundo

Francisco continues to work as a guard with a private company. His wife helps him with the bills with her job selling tortillas. She sells them every day. Through hard work he has raised his four children who are all studying. His dream is to see them become professionals. For this reason, all his efforts are put into providing the best for them.

He is requesting his second loan to put up grilles and doors. He still has to repair the walls and floor, which he will do over time bit by bit.
View original language description ↓
Don Francisco, continúa con su labor de vigilante para una empresa privada y su esposa le ayuda con los gastos también con la venta de tortillas las que vende todos los días, con arduo trabajo ha sacado adelante a sus cuatro hijos quienes estudian y su sueño y meta es verlos crecer como profesionales, es por eso todos sus esfuerzos centrados en ellos en brindarles lo mejor, el solicita un segundo crédito para puesta de verjas y puertas, dejando aun pendientes repello de paredes y piso los que poco a poco lograra con el pasar del tiempo.

Previous Loan Details

Francisco is married and his children are in school. He’s been working for some time for a private company as a guard. It’s honest work. His wife sells tortillas, Nicaraguan tamales, and other products for income to be more at home. His plans are to improve the infrastructure of their home since… More from Francisco Reymundo'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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Nicaragua

  • $3,636
    Average annual income
  • 170
    View loans »
    Nicaragua Loans Fundraising
  • $23,195,750
    Funds lent in using Kiva
  • 24.3
    Nicaragua Cordobas (NIO) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,250 helped Francisco Reymundo to buy grilles and a door for his house.
99% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2013
Listed
Mar 8, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014