Dennis Julian Hernandez Alvarado

Dennis Julián Hernández Alvarado is a 43-year old single father of three. His life partner takes care of his children. He is a jeweler and has done it for a living for more than five years. His business is located outside a marketplace, which is where he has obtained the majority of his customers. His intention is to expand his business to benefit his family, which is dependent on his income. He is asking for financing to buy gold, silver, stones, and acids. His goal for the future is that his children finish school.

Translated from Spanish by Lydia Brantley, Kiva Volunteer

Dennis Julián Hernández Alvarado tiene 43 años de edad. Su estado civil es soltero. Tiene 3 hijos a su cargo. Su compañera de vida cuida a sus hijos. Su actividad económica es joyería. Tiene más de 5 años que se dedica a esta actividad económica. La ubicación de su negocio es en las afueras del mercado, ya que es aquí donde obtenido la mayoría de sus clientes. Sus propósitos son de incrementar su negocio para el beneficio de su familia ya que de esto depende la manutención de su familia. El financiamiento que solicita es para la compra de oro, plata, piedras y algunos ácidos. Sus deseos para el futuro son de que sus hijos logren finalizar sus estudios.


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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