Update on Arnoldo AntonioArnoldo is a customer who has his own business which he runs with his wife, a small grocery store and their main source of income which has helped him to support his three children. One of his children is now in university and as spending has risen, Arnoldo has chosen to work as a private chauffeur to cover the household costs.
With this new loan, Arnoldo wants to invest once again in the grocery store with products such as basic grains, tinned products, chicken, meat, dairy products, fizzy drinks and so on to maintain his business and customer base. He is very happy as it is thanks to these low interest loans that he has been able to get ahead in life with his family.
Previous Loan DetailsArnoldo continues in his grocery store business, increasing his stock so that he can grow his business, thanks to Afodenic who provide a way for him to achieve this. Arnoldo now has a regular job as a driver which has improved his income which he uses to cover the personal expenses of his three ... More from Arnoldo Antonio'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