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Mercedes Del Socorro

Update on Mercedes Del Socorro

Mercedes is single and strives to move forward alone. Even though her children are independent, they live with their in-laws.

Mercedes makes tortillas at home. She also sells curds and soft drinks. Doña Mercedes' main goal is to replace a wall in one of her rooms with concrete since it has worn down over time. The existing wall is made of fiberboard, a lightweight material that deteriorates over time.

Mercedes does not have the funds to complete this improvement, so she has requested a loan in order to accomplish this goal. The materials she will purchase include cement, sand, blocks, and iron. She wants to gradually repair her small house so that she and her family can live peacefully.
View original language description ↓
Mercedes, es soltera sola lucha para salir adelante, sus hijos aunque ya son independientes viven con ella junto a sus nueras, se dedica a hacer tortillas en su casa de habitación, también vende cuajadas y refrescos. El objetivo principal de doña Mercedes es cambiar una pared de cuarto por concreto ya que al pasar el tiempo esta se puede derribar, porque es de plycem un material liviano que se deteriora con el tiempo, pero ella no cuenta con efectivo para cumplir con esta mejora por lo que acude a este préstamo para poder realizarlo, los materiales a comprar son: cemento, arena, bloques, hierro, de esta manera desea ir paulatinamente reparando su casita, para vivir tranquila junto a su familia.

Previous Loan Details

As a single mother, Doña Mercedes was able to get her children ahead. Now, they are all independent. She now works only for herself and hopes to be able to leave a decent home to her children. She works full-time in her business selling tortillas, drinks, and baked beans. She has had this business… More from Mercedes Del Socorro'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
  • 169
    View loans »
    Nicaragua Loans Fundraising
  • $23,230,825
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $900 helped Mercedes Del Socorro to buy materials such as cement, sand, blocks, and iron.
73% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2013
Listed
Nov 30, 2013
Currency Exchange Loss:
Possible