Victor Hugo Merlo Guardado

Víctor Hugo Merlo Guardado is 51 years old. His economic activity is a grocery store. He has 2 sons, but neither is still in his care as they now work independently. This man has been a good client. Together with his wife, they have managed to get ahead in their business as she takes care of the home and helps to manage the store. His priority is to supply his business with a variety of products. His store is located in his own home. He is requesting this financing for working capital, to buy basic needs items such as snacks, natural beverages and juices. His wish is to continue providing his wife with life’s necessities.

Translated from Spanish by Mary Lynn Malaby, Kiva Volunteer

Víctor Hugo Merlo Guardado tiene 51 años. Su actividad económica es una pulpería. El tiene 2 hijos pero ninguno está a su cargo ya que trabajan de manera independiente. El señor se ha desempeñado como un buen cliente. Junto a su esposa han logrado salir adelante con su negocio ya que ella le ayuda a realizar las tareas del hogar y hacerse cargo de la pulpería. Por lo que su prioridad es abastecer de variedad de productos. La ubicación de su negocio es en su vivienda. El solicita este financiamiento para capital de trabajo para la compra de granos básicos, golosinas, refrescos naturales y jugos. Su deseo es seguir con vida para proporcionarle a su esposa lo necesario.


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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