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Update on Faustino

Faustino, 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.
View original language description ↓
Faustino de 46 años de edad habita en Puerto Diaz junto a su familia compuesta por su esposa y sus 2 hijos. Desde hace mas de 25 años se dedica a la pesca artesanal, oficio que sus padres le enseñaron desde muy pequeño para ganarse el sustento diario. Esta solicitando su 4to credito con el objetivo de cambiar las redes de pesca que tiene, las cuales se encuentran en mal estado por el uso diario, lo cual le impide realizar su trabajo eficazmente, y de esta manera poder pezcar mas y obtener mayores ingresos para su familia. Cuenta con el apoyo de su familia, pues tanto su esposa como sus hijos son los que se encargan de venderlo a la ciudad y de esta manera obtienen ingresos que le permiten el sustento familiar.

Su mayor sueño es mejorar la calidad de vida de su familia, y crecer mas en su negocio.

Previous Loan Details

Faustino, 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 »

Additional Information


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 Nicaragua

  • $4,800
    Average annual income
  • 75
    View loans »
    Nicaragua Loans Fundraising
  • $26,432,925
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Faustino to replace his damaged fishing nets.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 29, 2011
Nov 1, 2011
Currency Exchange Loss:
Mar 17, 2014