The Bahoudii Crown Trust Issued Its First Housing Microloan on 23 May 2011, to Senior Ever José Reynosa Garcia from the town of Nidirí, Managua, Nicaragua.

Don Ever is 49 years old and has worked as a teacher at a local school for the last six years. He and his wife, who works as a merchant, both contribute to the household income, and they have two children who attend high school.

Don Ever's plans for the future include seeing his children continue their studies so that they can become successful. His greatest challenge is not having enough money from his salary to purchase the construction materials needed to complete the renovation of their bathroom that is currently in disrepair.

This loan is being be used to buy these construction materials so that Don Ever can provide a fully functional bathroom for his family.

This MicroLoan was made under our agreement with www.kiva.org and has been disbursed through AFODENIC, La Asociación para el Fomento al Desarrollo Nicaragua.

AFODENIC seeks to use micro-credit to foster productive commercial activity for the sake of economic, social, and cultural development within vulnerable urban and rural sectors traditionally neglected by commercial banks. AFODENIC, which was established on May 12, 1999, is a non-governmental organization based in the capital city of Managua. Working on a national level, AFODENIC has branches in Managua, Juigalpa, and Nueva Guinea.

The organization strives to fulfill its mission by integrating economic and human resources in order to provide and adapt financial services aimed at improving the economic statuses of the families of clients—individual producers, organized cooperatives, and small and micro-entrepreneurs from both the city and the countryside.

AFODENIC provides micro-loans for agricultural activities, livestock cultivation, and house repairs, as well as microenterprises/small businesses. The organization’s clients in the farming industry work in a range of areas, including breeding, milk production, calf retention, and the cultivation of pineapple, plantains, vegetables, coffee, fruit-bearing trees, and basic grains.

In 2006, AFODENIC began providing micro-credit within the most vulnerable neighborhoods of Managua, such as Hialeah, Memorial Sandino, Barrio 360, Villa Reconciliación, Laureles Sur, and Laureles Norte. AFODENIC has contributed to the improvement of these neighborhoods through the creation of jobs, improvements in home infrastructure, and the maintenance of small businesses.

One of AFODENIC’s most successful programs was the construction of nearly 500 homes in Juigalpa for people in the healthcare, education, and municipal services sectors. AFODENIC sought to combat the area’s housing shortage by building low-cost housing that could be purchased on credit at a low interest rate. The project, which was developed with the support of the city of Juigalpa, contributed significantly toward alleviating the housing problem in the area.

AFODENIC has worked on several social projects in the department of Chontales in conjunction with the Rural Institute of the Tropics. Together they have established various technical assistance and training programs, which have included assisting cooperatives with administrative and legal consolidation, creating a center to train farmers in the use of new agriculture technology, and teaching basic computer programs and Internet use.

As a social institution committed to improving the country, AFODENIC partnered with the Center for Socio-Educational Research at the UNAN-Managua University to promote research within the classroom at schools in Managua and Carazo. Also in the realm of education, AFODENIC recently initiated a new credit program to fund loans to students studying at universities or technical schools.

The organization’s funders have included Fundación Barceló, PTM-Mundubat, and Oikocredit. In addition, AFODENIC is affiliated with the Association of Microfinance Institutions from Nicaragua (ASOMIF), which is part of the Central American Microfinance Network (REDCAMIF).

AFODENIC began working with Kiva in early 2008 and has a four-star field partner risk rating.

More information about AFODENIC is available at the website here: http://afodenic.com/en/