Hector Ruben Benedith

Hector Ruben Benedith is 30 years old. He buys and sells household appliances. He has dedicated himself to this business for over 12 years. He began this business because he enjoyed repairing electronic appliances, and also selling these types of appliances that are necessary in the home. In addition, he has a daughter that needs clothing and to further her studies, which is the reason that he wants to move forward with this business. His biggest obstacle has been that at times he didn’t know his clients’ addresses, which caused him to waste a lot of time given that he has to look for the exact address. The loan that he is requesting will be used as work capital to purchase video games, a blender, sound equipment, televisions, and some spare parts for home appliances. Hector’s dream is to finish building his house, and to provide his family with the best living conditions.

Translated from Spanish by Mariela Cedeno, Kiva Volunteer

Héctor Rubén Benedith tiene 30 años de edad. Su actividad económica que es la venta y compra de electrodomésticos. Hace más de 12 años que se dedica a este negocio. El dio inicio a este negocio porque le gustaba reparar aparatos eléctricos y también vender este tipo de aparatos que son necesarios en el hogar y además tiene una hija que necesita de estudio y vestimenta por lo que esto lo motivo a salir adelante con este negocio. Su mayor desafío fue que algunas veces no conocía las direcciones de los clientes y esto le ocasionaba la pérdida de mucho tiempo ya que tenía que buscar la dirección exacta. El financiamiento que solicita es para capital de trabajo para la compra de video juegos, licuadora, equipos de sonido televisores y algunos repuestos de electrodomésticos. El sueño de Héctor es terminar de construir su vivienda y brindarle a su familia las mejores condiciones.


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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