Justo Arsenio Jarquin Hernandez

Justo Arsenio Jarquin Hernández is 46 years old. Justo works offering transportation. His bus has transports the personnel of a business. He was previously a driver for a business called ENAVIN. Here, he offered transportation and was responsible for transporting the staff. With this, he was able to establish his own business. Now he is asking for a loan for working capital to buy spare parts for his bus. His wish is to offer better service to his customers.

Translated from Spanish by Kathleen O'Connell, Kiva Volunteer

El Señor Justo Arsenio Jarquin Hernández tiene la edad de 46 años. La actividad económica de Justo es ofrecer los servicios de transporte. Su autobús hace recorrido de personal de una empresa. Anteriormente él era conductor, de una empresa llamada ENAVIN aquí ofrecía el servicio de transporte y se encargaba de transportar al personal. Por lo que con esto logra establecer su propio negocio. Por lo que ahora solicita el financiamiento para capital de trabajo para la compra de repuestos de su camión. Su deseo es ofrecer un mejor servicio para sus clientes.


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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