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Karen Maritza

Update on Karen Maritza

Karen is a young woman who is looking to get ahead in life together with her family. Her husband continues working as a taxi driver and their children are still growing. Karen gave up her previous job as a sales promoter and now she sews with her mom. They both make different types of outfits for children and adults, depending on their customers' request. Karen is requesting this loan to invest in the new business that she has started which she hopes will prosper so that she can guarantee her children an education. She needs to buy raw materials such as fabric, thread and various other accessories in order to continue working.
View original language description ↓
Karen, es una joven que busca como salir adelante con su familia, su esposo continua trabajando como taxista, sus hijos cada vez más grandes, ella renuncio a su trabajo anterior como promotora de venta, ahora de dedica a trabajar en costura junto a su mamá, ambas confeccionan diferentes tipos de trajes de niños, adultos dependiendo de la solicitud del cliente. Karen solicita el crédito para invertir en este nuevo negocio que ha empezado, con el que busca como prosperar para garantizar la educación de sus hijos, ella necesita comprar materia prima como telas hilos y accesorios varios para continuar.

Previous Loan Details

Karen continues work in supermarket sales promotion, with the goal of supporting her husband so that they can both meet their expenses and continue improving their house. Of their three growing sons, two are at school and the youngest is looked after by his mother. Her husband continues to provid... More from Karen Maritza'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
  • 126
    View loans »
    Nicaragua Loans Fundraising
  • $23,814,675
    Funds lent in using Kiva
  • 24.6
    Nicaragua Cordobas (NIO) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $750 helped Karen Maritza to buy fabric, thread, needles and various accessories.
99% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 21, 2013
Listed
Jun 4, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014