Update on TeodoroTeodoro continues his work selling vegetables that he buys in bulk, like onions, tomato, potatoes and sweet peppers. He buys from vendors who bring these fresh and delicious products from the north of the country. His grown children and his wife help him out with his business.
He did not make a profit for the last two months because the cost of vegetables increased due to a loss of harvest during the rains, and also because his customers didn't buy a lot. The price is stable today. What helps him out is that he has a truck and also hauls goods for extra money.
With this new loan he wants to buy potatoes, onion, tomato and sweet peppers in bulk, with the goal of improving his sales and meeting his customers' demands so that he can maintain his clientele. He continues investing the loans in wholesale products.
En sus ventas en meses pasados tuvo perdida, por el alza de las verduras, ya que por motivo de lluvias las cosechas se han perdido, lo que se eleva el costo, y los clientes no compraban mucho. Estando estable el precio al día de hoy. Con lo que se apoya es que tiene su camioneta y hace acarreo, teniendo estas otras entradas.
Con este nuevo préstamo desea invertir en: quintales de papas, cebolla, tomate, chiltoma en mayor cantidad, con el objetivo de mejorar las ventas, a si como mantener su clientela ya que la demanda es mucha. Siempre invirtiendo al mayor con financiamiento.
Previous Loan DetailsTeodoro is married and has worked as a merchant for some time. His wife helps him by selling products. Teodoro has faced difficulty since suffering an accident that caused him to neglect his business. He started out using his own savings. In this loan cycle, he will invest his funds in t... More from Teodoro'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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