Update on XiomaraXiomara is known for being a hardworking woman who has been able to manage her capital. She makes a living selling clothing for men, women, and children. She also sells cosmetics, shoes, and other items. She has run this business for more than 10 years, using it to support her household.
She has gotten her three children ahead; they work and attend college. In spite of being a single mother, Xiomara works hard in her job. Every day she rises with the hope that every time her customers arrive, the profit will guarantee her daily sustenance.
She needs to invest in her business, so she's requesting a loan to buy a variety of clothing and footwear to increase her inventory and earn more profit.
Her expenses are more all the time because of her household obligations and the increase in the cost of staples, which she needs to address with loans so as not to affect her working capital. She has had loans and said it's the way to be able to get ahead.
Previous Loan DetailsXiomara is a hard-working woman who sells clothing, shoes and cosmetics. Through her own efforts she has been able to provide for her three children, who are all studying at the university. She is proud of the fact that they are getting an education to become professionals and good citizens. ... More from Xiomara'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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