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Silverio

Update on Silverio

Silverio is a small merchant who sells used clothing and basic grains. He works as a street vendor in the departments throughout the country. He lives in the city of Managua and is currently trying to improve his family's living conditions. The loan he is requesting is to finish the bathroom at home, since it needs a door and a new roof. He will buy construction materials such as cement, sand, metal sheeting and wood.
View original language description ↓
Silverio es un pequeño comerciante que se dedica la venta de ropa usada y granos básicos de forma ambulante en los departamentos del país. Habita en la ciudad de Managua, y actualmente está tratando de mejorar las condiciones de vida de su familia, solicita el crédito para terminar de construir el servicio higiénico de su vivienda al que le hace falta la puerta y cambiar el techo, comprará materiales de construcción como cemento, arena, láminas de zinc, madera.

Previous Loan Details

Silverio is a hard-working man who lives together with his wife, who is also hard-working and makes tortillas at home. They have six children, all adults, who are married and do not live with them anymore. Silverio sold basic grains, but now sells new and used clothing. He goes to sell his produc... More from Silverio'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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 121
    View loans »
    Nicaragua Loans Fundraising
  • $24,405,475
    Funds lent in using Kiva
  • 25.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Silverio to buy materials such as cement, sand, metal sheeting and wood planks.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 20, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014