Update on ReynaldoReynaldo continues to work in the purchasing and resale of scrap metal. Also, during harvest season he takes advantage of the availability of avocados, corn on the cob, squash, tomatoes and other vegetables that are at a low price, obtaining this extra income to help cover the family expenses. He has seven children, two of which work and the others study; his wife helps with sales.
Now he has his own truck , which has helped him to improve his work. With this new loan he will buy scrap metals that will give him the most profits. He will buy 1000 pounds of scrap metal in aluminum, copper, bronze and some of the loan he will invest in the harvest of corn on the cob, tomatoes, peppers and onion. Thanks to these loans he continues to increase his sales and has benefited by managing his business well.
Hoy en día tiene su propia camioneta, que le ayuda hacer mejor su trabajo, con esta nueva inversión comprara chatarra que es en donde le queda más ganancias. Productos a comprar diez quintales de chatarra en aluminio, cobre, bronce y una parte invertirá en la cosecha de elote, tomate, chiltoma, cebolla. Gracias a estos financiamientos sigue creciendo en sus ventas y siendo de grandes beneficios al administrar bien su negocio.
Previous Loan DetailsReynaldo is married and his wife stays at home. He has had is own business selling scrap for some time. His children help him with the business. His goal is to improve the conditions of their home and to increase their earnings through sales. He started out with a horse drawn carriage but today h... More from Reynaldo'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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Success!! The loan was 100% repaid