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Glem Americo

Update on Glem Americo

Glem, like all Nicaraguans, wishes to get ahead with his family. His family is comprised of his wife and two small children, who go to school.

Glem continues to sell tacos. Now he also makes pizzas. His business helps him with their different expenses.

This is his second loan. He is requesting the loan to buy raw material like flour, cheese, ingredients, tortillas, meat, and cabbage in order to continue his sales to support his family.
View original language description ↓
El señor Glem, como todo Nicaragüense desea salir adelante junto a su familia, que la conforman su esposa y dos pequeños hijos quienes estudian, Glem continua con la venta de tacos y ahora también hace pizzas negocio con el que se ayuda para sus diferentes gastos, este segundo crédito que solicita es para comprar materia prima como harina, queso, ingredientes, tortilla, carne, repollo para continuar con la venta para el sustento familiar.

Previous Loan Details

Glem is married, his son’s a student. He’s hardworking and is an Engineer by profession. He has a business together with his life partner that he’d like to expand and add larger amounts and variety of products. His business is based on food sales, the main products he sells. He started the… More from Glem Americo'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
  • 170
    View loans »
    Nicaragua Loans Fundraising
  • $23,230,825
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Glem Americo to buy flour, cheese, ingredients, tortillas, meat, and cabbage.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 27, 2013
Listed
May 12, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014