Alfredo Jose Blanco Mendez

Alfredo José Blanco Méndez is 38 years old, and since he was young he has liked working and earning money in a humble manner. For more than five years he has been selling used clothing. He started in the business because his father could not continue with the business and Alfredo had the knowledge to run the business, so his father decided that Alfredo should take control. The funding that Alfredo requests is for working capital for the purchase of dresses, shirts, skirts, pants and extra large clothing because that is the most sought after by his clients. His biggest dream is to have success with this business.

Translated from Spanish by Amy Schapiro, Kiva Volunteer

Alfredo José Blanco Méndez tiene la edad de 38 años. Desde muy joven le ha gustado trabajar y ganarse el dinero de manera muy humilde. Su actividad económica es la venta de ropa usada. Hace más de 5 años que se dedica esta actividad. El do inicio a este negocio por su Padre ya que él no podía seguir adelante con este negocio y Alfredo tenia los conocimientos para administrar este negocio por lo que su Padre decide que Alfredo se haga cargo del negocio. El financiamiento que solicita es para capital de trabajo para la compra de vestidos, camisetas, faldas, pantalones y ropa extra grande ya que esta es la más buscada por sus clientes. Su mayor sueño es seguir adelante con este negocio


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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