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Reynaldo

Update on Reynaldo

Reynaldo is a hardworking man who fights for his family so they will lack for nothing when it comes to the daily bread. With the help of his wife, who sells different products, they support their minor children who go to school and who hope to have college degrees. in order to do this, each of them goes out to the streets looking for scrap metal to sell. That is why he is asking for this loan, to keep investing in his small business which is his only source of income.
View original language description ↓
Don Reynaldo, un hombre trabajador que lucha por su familia para que no le falte lo necesario en la casa el pan diario, con la ayuda de su esposa quien vende productos varios, ambos apoyan a sus hijos menores quienes estudian y espera logren culminar una carrera cada uno de ellos y para poder lograrlo sale a por las calles a rebuscar chatarras para vender, es por eso el motivo de este crédito para continuar invirtiendo en su pequeño negocio que es su único medio de ingresos.

Previous Loan Details

Reynaldo continues to work in the purchasing and resale of scrap metal. Also, during harvest season he takes advantage of the availability of avocados, corn on the cob, squash, tomatoes and other vegetables that are at a low price, obtaining this extra income to help cover the family expenses. He... More from Reynaldo'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
  • 114
    View loans »
    Nicaragua Loans Fundraising
  • $24,398,000
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Reynaldo to buy scrap metal.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 24, 2013
Listed
May 11, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014