Aydalina Del Carmen López Gaitán

Aydalina Lopez lives in the city of Masaya. This Department is located on Nicaragua's Pacific Coast and is one of the country's main tourism destinations and thus an important center of commerce.

Aydalina is 35 years old and has worked with her husband manufacturing typical and fine shoes for the past 8 years. They sell their shoes in the city's artesanal market and some, their finest, are exported outside the country.

This business has been around for a long time; they learned from their parents. She has two small children and they are the reason they are so dedicated to their work. She began in a solidarity group and, thanks to her credit record, now works as an individual. Their business success has allowed them to make improvements on their home. This loan will be used to purchase raw materials in order to increase their production.

Translated from Spanish by Michael Bujazan, Kiva Volunteer

Aydalina López es originaria de la Ciudad de Masaya. Este Departamento está ubicado en el pacífico de Nicaragua y es uno de los principales centros de turismo y por ende de comercio del país.

Aydalina tiene 35 años de edad y trabaja junto con su esposo en el negocio de elaboración de calzado típico y calzado fino desde hace 8 años. Sus zapatos se venden en el mercado de artesanías de la ciudad y algunos son exportados fuera del país. Que son los zapatos más finos que ellos fabrican.

Este negocio data de muchos años atrás y lo aprendieron de sus padres; Ella tiene dos niños pequeños y por ellos han sido muy esforzados. Trabajó en un grupo solidario y pasó a individual por su record crediticio. Con el negocio han podido mejorar su casa; Su crédito lo utilizara para la compra de materia prima y poder producir más.


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

Subscribe