Carlos Hernandez Garcia

The small businessman Carlos is 61 years old, is married with 7 children all of whom have made their own lives and live in their own homes. Carlos is a driver who for more than 30 years has been working in personal transport, driving a taxi that he owns.

This small businessman has already benefited from a Kiva loan, which has already been paid back in a timely way. He takes advantage of this opportunity to thank the lenders who gave him that credit which was of benefit to him and enabled him to obtain some spare parts.

However, because of the condition of the streets, these vehicles have to be maintained quite often and parts need to be changed, so he requests financing to buy the following:

1 Car battery for $100

2 front shock absorbers at $55 each

2 reach shock absorbers at $30 each

8 bearings at $8 each

2 front coil springs at $25 each

2 back coil springs at $20 each

1 alternator for $120

2 axels at $20 each

3 alternator belts at $8 each and

2 front jacks at $46 each

Translated from Spanish by Alison Hynd, Kiva Volunteer

El microempresario Carlos Hernández García tiene 61 años de edad es casado con 7 hijos, todos estos ya han hecho su vida propia y viven en sus propios hogares. El conductor Hernández se dedica hace más de 30 años a la actividad de transporte selectivo conduciendo un taxi el cual es de su propiedad.

Este microempresario ya fue beneficiado con un crédito por parte de Kiva, el cual ya cancelo en tiempo y forma. Aprovecha a la vez para agradecer a los prestamistas que le solicitaron el crédito, ya que le fue de beneficio y pudo obtener algunos repuestos.

Sin embargo por las condiciones de las calles a estos vehículos se les debe dar mantenimiento con bastante periodicidad y cambiarles algunos repuestos por lo que solicita se le financie para comprar lo siguiente:

1 Batería para carro a US$ 100, 2 amortiguadores delanteros a US$ 55 cada uno, 2 amortiguadores traseros a US$ 30 cada uno, 8 balineras para patente a US$ 8 cada uno, 2 aspirales delanteros a US$ 25 cada uno, 2 aspirales traseros a US$ 20, 1 alternador a US$ 120, 2 puntas flecha a US$ 20 cada una, 3 correas de alternador a US$ 8 cada una y 2 tijeras delanteras a US$ 46 cada una.




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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