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Salomon

Update on Salomon

Salomón's four children all have jobs, and he is very happy to have taught them the value of hard work, which is a blessing. His wife helps him run the shop in which he has invested almost all of his loans to increase his sales. He needs this new loan to build a bedroom on his property. He will buy the materials, including cement, sand, rebar, cinder blocks, and gravel, so he can offer his children a better place to live.
View original language description ↓
Don Salomón, tiene a sus cuatro hijos todos trabajando por lo que está muy contento de haberles enseñado el valor del trabajo lo cual es una bendición, su esposa le ayuda con la venta de pulpería en la que ha invertido casi todos sus créditos para mantener las ventas, ahora este nuevo préstamo lo necesita para hacer un cuarto de habitación en su propiedad, comprara los materiales como cemento, arena, hierro, bloques, piedrines para brindarle un mejor espacio a sus hijos.

Previous Loan Details

Mr. Salomon continues running his general store, which he does together with his wife. This has been a growing process thanks to the loans that he has received from the institution. For both of them improving their home is essential, which they are doing step by step in order not to neglect their… More from Salomon'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
  • 63
    View loans »
    Nicaragua Loans Fundraising
  • $23,418,850
    Funds lent in using Kiva
  • 24.9
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Salomon to buy cement, sand, rebar, cinder blocks, and gravel.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2013
Listed
Jun 11, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014