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Pedro Antonio

Update on Pedro Antonio

Pedro is a man who is striving a lot to move forward with his auto repair shop small business located in his home. Pedro works hard on a daily basis to maintain his mechanical tools.

He also wants to continue making improvements to the workshop. He is applying for the loan so that he can purchase building materials so that he can put the roof on the part of the workshop that still needs work.

Since he is improving it in stages, he expects to finish the roof, doors, and windows during this phase. This will allow him to keep his belongings and work carried out in a safe place. In turn, this will ensure better services and security all day long.
View original language description ↓
Don Pedro es un señor que se esfuerza bastante para sacar adelante su pequeño negocio de taller de mecánica automotriz ubicada en su casa de habitación. Pedro lucha a diario por mantener sus herramientas de mecánica, así como también desea continuar haciéndole mejoras al taller. Solicita el crédito para comprar materiales de construcción para ponerle techo a una parte del taller que aun le hace falta acondicionar, ya que viene mejorándolo por etapas y espera que con este ciclo pueda terminar el techo, puertas y ventanas, para asegurar sus pertenencias y los trabajos realizados, de esta manera garantizar un mejor servicio y seguridad en el día y la noche.

Previous Loan Details

Pedro continues with his auto mechanic shop wanting to make new projects for this year for better administration and to obtain better benefits for his family. His wife helps him out with a grocery store which covers basic household expenses and supporting their three minor children with their ... More from Pedro Antonio'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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 153
    View loans »
    Nicaragua Loans Fundraising
  • $24,077,475
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,400 helped Pedro Antonio to buy construction materials like zinc sheets (for the roof), perlin beams, doors, and windows.
94% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 24, 2013
Listed
Nov 11, 2013
Currency Exchange Loss:
Possible