Orlando Antonio Espinoza

Orlando Antonio Espinoza is married and has two children who attend a public secondary school because he doesn’t have sufficient income to keep them in a private school. His business is a small convenience store located in his home. Previously, he worked in different places in his district in order to offer his products on an itinerant basis. In this fashion he was able to gather many customers. Currently, he is very well–established in his in-home shop, although it wasn’t easy confronting all the difficulties that he had to go through.

Now, he is applying for financing that will be used for working capital for the purchase of basic grains, juices, bread, sweets, eggs, and soft drinks. Orlando dreams of increasing his business so that this will assure the future of his 2 children.

Translated from Spanish by Richard Brown, Kiva Volunteer

Orlando Antonio Espinoza está casado y tiene 2 hijos que asisten a un colegio público, ya que no tiene los suficientes ingresos para mantenerlos en un privado. Su actividad económica es una pulpería, que está ubicada en su vivienda. Anteriormente él viajaba a diferentes lugares en su comarca para ofrecer sus productos por lo que andaba ambulante, fue así de esta manera que pudo conseguir muchos clientes. Actualmente el se encuentra muy bien establecido en su vivienda, aunque no fue fácil enfrentar todas las dificultades por lo la que tuvo que atravesar. Ahora está solicitando un financiamiento que será utilizado para capital de trabajo para la compra de granos básicos, jugos, pan, dulces, huevos y gaseosas. Orlando tiene el sueño de incrementar su negocio para que el día de mañana esto le asegure el futuro a sus 2 hijos.


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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