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Luis Manuel

Update on Luis Manuel

Luis works selling basic grains in quintals (one hundred pound weights), loading it in his truck, his main mode of transporting it. His own business allows Luis to obtain earnings to meet the needs of his little 3 and 5 year old children and his wife who cares for the home.

He is asking for funding to invest in quintals of beans and corn at wholesale which lowers the cost.
View original language description ↓
Luis, se dedica a la venta de granos básicos por quintales, los que el mismo carga en su camión, su principal medio de transporte del producto. Con su negocio propio don Luis obtiene ingresos para satisfacer las necesidades de sus hijitos de las edades de 3 y 5 años y a su esposa quien es ama de casa. Actualmente solicita financiamiento para invertir en quintales de frijoles y maíz por mayor que es mas barato para la venta.

Previous Loan Details

Don Luis continues with his business as a wholesaler of basic grains. He uses a truck to transport his products to wherever he buys and sells. Luis already has buyers so he is able to generate sales easily. He buys his products at low cost in the Department of Jinotega, where these crops are c... More from Luis Manuel'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
  • 25.3
    Nicaragua Cordobas (NIO) = $1 USD
Expired
A loan of $1,400 helped Luis Manuel to buy quintals of corn and beans.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 10, 2013
Listed
Aug 23, 2013
Currency Exchange Loss:
Possible
Expired:
Sep 22, 2013