Jose Roberto Mojica Navarro

José Mojica Navarro is 44 years old. He is a married man. He has 3 children under his care. His business is in the sale of dairy products; he has run this business for over 6 years, and his biggest interest as a responsible father is to have this business in which he dedicates himself to offering products such as cheese, cheese curds, and cream. He began this business because he did not have a stable place in which to offer his products so he had to sell them on the street; this was not easy for José who had to spend everyday walking under the sun, nevertheless, this didn’t stop him from having a smile on his face, and also showing his clients kindness. The loan will be used as work capital to purchase basic materials. His biggest wish is to be the owner of a distribution center.

Translated from Spanish by Mariela Cedeno, Kiva Volunteer

El Señor José Mojica Navarro tiene 44 años. Es un hombre casado. Tiene 3 hijos a su cargo. Su actividad económica es la venta de productos lácteos, hace más de 6 años que se dedica a este negocio, por lo que su mayor interés es como padre responsable dedicarse a ofrecer los productos como queso, cuajada y crema. El inicio este negocio, porque no tenía un lugar estable donde ofrecer sus productos, y decide recorrer algunas calles, esto no fue tan fácil para José por que todos los días, camina bajo el sol pero esto no le impide llevar una sonrisa y mostrar esa amabilidad con sus clientes. El destino del financiamiento es para capital de trabajo para la compra de materia prima. Su mayor deseo es ser el propietario de una distribuidora.


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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