Danilo Jose Torres

Danilo José Torres is 36. He is single, and he has two minor children.

He provides taxi service. This developed as a new source of income for his family. This has allowed him to improve a bit the quality of life in his home.

The increase in fuel prices has been difficult. That is why he is asking the Fundación León 2000 for a loan to allow him to improve the condition of his automobile. That way he can provide his customers with a fair price.

He wishes to increase his sales and keep his immediate family stable in all ways.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

Danilo José Torres tiene 36 años de edad, es un hombre soltero y tiene 2 hijos menores de edad. Su actividad económica es brindar el servicio de transporte de taxi la cual surge como una nueva fuente de ingreso para su familia. Este le ha permitido mejorar un poco su calidad de vida a su hogar. El combustible ha sufrido mucho con el alza de los precios en los y es por esto que solicita a Fundación León 2000 un financiamiento de manera que le permita mejorar la condición de su automóvil y así ofrecerle a sus clientes un precio justo. Los deseos de él son aumentar sus ventas y mantener el núcleo familiar estable en todos los ámbitos.




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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