Oscar Antonio Miranda

The micro-entrepreneur Oscar Antonio Miranda is 55 years old, he is married, has 3 children, two of which are in school, and for 10 years he has been traveling to the capital to purchase various ordered products. This business consists of many people occasionally wanting to buy products that are cheaper in the capital and they ask this of Mr. Miranda, who only charges a small commission for the purchase. Nonetheless, Mr. Miranda is the one who uses his resources to make said purchases. It is for this reason that the micro-entrepreneur needs to obtain financing, since in so far as he purchases more products his commission increases.

Among his customers are barbers, cabinet makers, seamstresses, taxi drivers, jewelers, and people who need any product that is not found in the city, or that is difficult to find. There are very few people who do this job since the trip to the capital is rather tiring and boring. Mr. Miranda has already been the beneficiary of a loan on the part of Kiva and has shown that this loan allowed him to increase his income. It is important to note that this client pays on time and develops his loan.

He needs to be financed to purchase the following products: 300 yards of Dacron fabric which he will purchase for 1 US dollar a yard, 2 weights for small local grocery stores at 17 US dollars a weight , 30 DVD cables at 1 US dollar a cable, 10 Sharp radios at 15 US dollars a radio, 4 car batteries at 30 US dollars a battery, 12 large calculators at 5.50 US dollars a calculator, and 300 yards of mecate at 1 US dollar a yard.

Translated from Spanish by Heather Nicholson, Kiva Volunteer

El microempresario Oscar Antonio Miranda tiene 55 años de edad, es casado, tiene 3 hijos los cuales dos estudian y desde hace 10 años se dedica viajar a la capital a comprar productos varios por encargo. Este negocio consiste en que muchas personas en ocasiones quieren comprar algunos productos que en la capital son mas baratos y se lo encargan al señor Miranda quien solamente les cobra una pequeña comisión por la compra, sin embargo el señor Miranda es quien utiliza sus recursos para hacer dicha compra. Por este motivo es que este microempresario necesita obtener financiamiento ya que en la medida que compre más productos su comisión aumenta.

Entre los clientes que tiene se encuentran los barberos, los ebanistas, las costureras, los taxistas, los joyeros y personas que necesitan algún producto que no se encuentre en esta ciudad o que sea difícil de encontrar. Este tipo de actividad casi no existen personas que la realicen ya que el viaje a la capital es bastante cansado y aburrido. El señor Miranda ya fue beneficiado con un crédito por parte de Kiva y ha manifestado que este préstamo le permitió aumentar sus ingresos. Cabe señalar que este cliente pago en tiempo y forma su crédito.

Necesita se le financie para comprar los siguientes productos: 300 yardas de Tela dacron la cual compra a US 1 dólar cada yarda, 2 pesas para pulpería a US 17 dólares cada pesa, 30 cables de DVD a US 1 dólar cada cable, 10 radios sharp a US 15 dólares cada radio, 4 baterías para carro a US 30 dólares cada batería, 12 calculadora grande a US 5.50 dólares cada calculadora y 300 yardas de mecates a US 1 dólar cada yarda.



Important Information About This Loan
In mid 2008, a movement began in Nicaragua called “Movimiento No Pago” (a movement for non-payment of loans). This movement, supported mostly by farmers of the north of Nicaragua with ties to the left-wing party in Nicaragua, has been organizing protests and making it difficult for some branches of microfinance institutions to operate normally. This movement has been fed by the global the economic crisis, which has made it more difficult for Nicaraguans to pay back their loans. This group has submitted a law to the government to create a moratorium on debt repayment. If passed, the law could have a severe effect on the microfinance industry and banking sector in Nicaragua. Recent information indicates that the situation may be improving as the President of Nicaragua has spoken out against this law and would not support its passage in its current form. The network of microfinance institutions in Nicaragua (ASOMIF) has been negotiating with the government in support of an alternative proposal. Kiva, along with 25 other funders from 9 countries, has signed onto a letter to the Nicaraguan government urging a resolution to this situation without enacting a moratorium on debt repayment. The potential passage of the debt moratorium increases the risk of lending in Nicaragua. For more information, please see the following articles: http://impreso.elnuevodiario.com.ni/2009/09/24/nacionales/110236; http://www.laprensa.com.ni/archivo/2009/octubre/16/noticias/economia/355010.shtml

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