Ernesto Jose Alvarado

Sr. Ernesto José Alvarado is 47 years old and the father of 3 children, of whom two attend college while the third child is still a minor.

For the past 18 years, he has been dedicated to the upholstery business that he has managed with great sacrifice. He operates his business out of his home. In addition, he performs some work for a bus cooperative in Managua in which he provides reupholstery and maintenance services for their vehicles. He buys all of his materials for his primary business in Managua because the prices are more favorable and enable him to earn more income.

Despite not having much money, Sr. Ernesto lives happily with his family and has all the basic services. He possesses a fighting spirit and continues to work to fulfill his family’s dreams.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El señor Ernesto José Alvarado posee un negocio que es una tapicería, el tiene 47 año de edad. Su negocio está ubicado en su casa de habitación. Hace más de 18 años que se dedica a este negocio con mucho sacrificio. El es padre de tres hijos de los cuales 2 asisten al colegio y el tercero que es menor de edad. el señor Ernesto además de trabajar en su casa, realiza algunos trabajos en Managua en una cooperativa de buses, en donde brinda mantenimiento al mobiliario de las unidades, compra la materia prima de su negocio en el mercado de Managua en donde los precios son más favorables y así el señor puede ganar un poco mas de dinero. A pesar de no tener mucho dinero vive muy feliz con su familia y cuenta con todos los servicios básicos. Como toda persona luchadora tiene los sueños de continuar trabajando para su familia.


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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