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Oscar

Update on Oscar

Oscar lives in the Cristo del Rosario neighborhood, a suburban area of Managua. He has one small son who does not yet attend school. Oscar really wants to get ahead in life and for this reason he is getting ready to study clinical psychology. At the same time, he also sells fast food such as hamburgers, soft drinks, and desserts from his home, along with his wife. The loan he is requesting is to invest in this business, which he hopes will be a success for his personal and family development.
View original language description ↓
Oscar, es habitante del barrio Cristo del Rosario, una zona marginal de Managua, padre de un hijo que esta pequeño y aun no va a clases. Oscar tiene muchos deseos de superarse en la vida es por ese motivo que se está preparando estudiando la carrera de psicología clínica, a la misma vez se dedica a vender comida rápida como hamburguesas, refrescos y reposterías, en la localidad de su casa junto a su esposa. El crédito solicitado es para invertir en dicho negocio que espera sea de éxito para su desarrollo personal y familiar.

Previous Loan Details

Oscar continues to work at a discothèque in the capital, but he has gone through many changes in his life. He previously lived at his mother’s small house, which was better for the common welfare of his family. Today he and his wife have moved to his father-in-law’s house where he has set up a ... More from Oscar'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

  • $4,800
    Average annual income
  • 132
    View loans »
    Nicaragua Loans Fundraising
  • $24,576,775
    Funds lent in using Kiva
  • 24.7
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Oscar to purchase meat for hamburgers, desserts, and fruit for drinks.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 22, 2013
Listed
Jul 7, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014