Update on FaustinoFaustino, 46, lives in Puerto Díaz with his family which consists of his wife and two children. He’s been an artisanal fisherman for over 25 years, an occupation his parents taught him when he was a little boy to earn his daily living. He’s asking for his 4th loan in order to replace his fishing nets that have worn away through daily use and which keep him from doing his work efficiently. This way he’ll be able to fish more and obtain higher income for his family. His family supports his efforts because both his wife and his children take care of selling the fish in the city thus obtaining income to support the family. His greatest wish is to improve his family’s quality of life and to grow more in his business.
Su mayor sueño es mejorar la calidad de vida de su familia, y crecer mas en su negocio.
Previous Loan DetailsFaustino, 45 years old, lives in Comarca de Puerto Diaz with his family, composed of his wife, Maria Mora Salablanca, and their 2 children, a 12 year-old and a 15 year-old. He began fishing over 25 years ago, when he inherited the profession from his parents, whom taught him the trade when he wa... More from Faustino's previous loan »
About AFODENICThis 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.
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