Vidaldina Reyes Hernandez

Vildaldina Reyes Hernández is 41 years old and has 3 children. She started her business 15 years ago when she began selling clothing from her home. Sometimes she also transported undergarments, undershirts and camisoles in a basket. She has received one previous loan, with which she increased the inventory she was able to offer to her customers. In this way, little by little, with interest and much effort, Vildaldina was able to add a large variety of products to her business. For this reason, Vildaldina is asking for a loan for working capital to purchase shirts, pants, undergarments and camisoles. The goal of all her efforts is to provide her children with an education through her dignified work.

Translated from Spanish by Elizabeth Novesky, Kiva Volunteer

Vildaldina Reyes Hernández tiene 3 hijos. Su edad es de 41 años. Su negocio dio inicio hace 15 años, porque empezó vendiendo ropa en su vivienda y además algunas veces transportaba en una canasta calcetines, ropa interior, camisetas y camisolas. Y posteriormente logro conseguir algo de dinero prestado, y así incrementar su inventario para ofrecer a sus clientes. Y así fue como poco a poco con interés y con mucho esfuerzo logro proporcionarle a su negocio una amplia variedad de productos. Es por esto que Vildaldina solicita este financiamiento para capital de trabajo para la compra de camisetas, pantalones, ropa interior, camisolas. Por lo que todos los esfuerzos que realiza son para proporcionarle a sus hijos una educación por medio de este digno trabajo.


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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