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Update on Ricardo

Ricardo, 60, is a very hard worker and lives with his common-law wife. For nine years he has been selling vegetables and has been a client of the institution for ten years. In that time he has proven himself to be very responsible paying back the loans.

The loan he is requesting is for his new business and it is to buy materials such as thread, fabric and needles to make bedspreads, covers and curtains.
View original language description ↓
Ricardo es un hombre muy trabajador, tiene la edad de 60 años, acompañado, su negocio es la venta de verduras desde hace 9 años, Tiene de ser cliente de la institución 10 años, tiempo en el cual ha demostrado ser una persona muy responsable en sus cuotas. El crédito que está solicitando nuevamente es para empezar con un nuevo negocio de comprar materiales como hilo, tela, agujas, para la elaboración de cobertores, fundas, sobre cama, cortinas.

Previous Loan Details

Señor Ricardo Franciso is a hard-working and enterprising man who makes a living selling perishables, which he has done for 8 years in the local marketplace. The main products that he sells are tomatoes, chiltoma peppers, onions, etc., in which he will invest the loan. More from Ricardo's previous loan »

Additional Information

About ADIM

Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.

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
  • 69
    View loans »
    Nicaragua Loans Fundraising
  • $25,083,125
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Ricardo to buy materials such as thread, fabric, and needles to make bedspreads, covers and curtains.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Oct 9, 2013
Nov 19, 2013
Currency Exchange Loss:
May 17, 2014