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Rafael Arturo

Update on Rafael Arturo

Sr. Rafael lives in the town of Ticuantepe with his wife and daughters. His greatest dream is to improve his living conditions. Previous loans have enabled him to earn greater profits because his customer base has grown. Consequently he needs to invest much more.

With this new funding Sr. Rafael is buying bundles of clothing for women, men, children and adolescents. He will also use it to purchase packages of footwear. As a result, his earnings will continue to grow and he will be able to invest in finishing the construction on his house. He is grateful for the support and confidence that Kiva and Afodenic have shown in him.
View original language description ↓
El señor Rafael, habita en el municipio de Ticuantepe junto a su esposa e hijas, su mayor sueño es mejorar sus condiciones de Vida, con los creditos anteriores a obtenido mayores ganancias ya que sus clientes han aumentado por lo que n ecesita invertir mucho mas, con este n uevo financiamiento el señor Rafael compra, pacas de Ropa para Damas, Caballeros, Niños, Adolecentes y tambien aprovechara para comprar Paca de Calzado, asi sus ingresos seguiran incrementando y podra invertir en su casa para terminar de Construirla, Agradece el apoyo y Confianza que Fondos Kiva y Afodenic le han brindado

Previous Loan Details

Rafael lives in the town of Ticuantepe together with his wife. The biggest problems that he faces in his business are rising product prices and customers who don't pay on time. His plans for the future are to improve his living conditions. Rafael would like this loan to buy bundles of second... More from Rafael Arturo'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
  • 61
    View loans »
    Nicaragua Loans Fundraising
  • $26,432,925
    Funds lent in using Kiva
  • 24.8
    Nicaragua Cordobas (NIO) = $1 USD
A loan of $1,500 helped Rafael Arturo to purchase bundles of clothing.
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 29, 2013
Jun 14, 2013
Currency Exchange Loss:
Jul 14, 2013
This photo was used before for a previous loan for Rafael Arturo. It was first posted on Kiva on Jun, 2011. Learn More