Jose Sabino Padilla Mitchell

José Sabino Padilla Mitchell is a micro-entrepreneur and a member of the Miskito ethnic group. He is 50 years old, married, and has two teenage children who are high school students. For over 15 years, José has been producing carvings that are made of rosewood and in the image of people, animals, boats, etc.

He sells his creations at fairs, at the airport, and in public places that are frequented by local residents and tourists, both domestic and international. However, José does not receive support from either the government or other organizations to help finance his artistic endeavors because his products are not the type that are sold every day. His sales depend on the social, cultural, and economic climate within the city.

José is requesting a loan to finance the following purchases:

• 200 ft. of rosewood timber at $1 USD/ft.
• 2 packages of sandpaper that cost $12 USD each
• 6 units of paste used for polishing finished products that cost $6 USD/unit
• 10 saw blades that cost $4 USD each

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El microempresario José Sabino Padilla Mitchell tiene 50 años de edad, es de la etnia miskita, es casado tiene dos hijos adolescentes que se encuentran estudiando en nivel secundario. El artesano Padilla quien es de la etnia miskita, se dedica desde hace mas de 15 años a trabajar el palo de rosa con el cual realiza imágenes de personas, animales, barcos, etc.

Esta actividad por lo general es ofertada en ferias, en el aeropuerto y en lugares públicos que son visitados por la población y por turistas nacionales e internacionales, sin embargo no existe apoyo ni del gobierno ni de otras instancias para financiar esta actividad, porque no es un producto que se vende todos los días, sino que depende las actividades sociales, culturales y económicas que se realizan en la ciudad.

En artesano Mitchell esta solicitando se le financie para comprar:

200 pies de madera de palo de rosa el cual compra a US 1 dólar cada pie, 2 paquetes de lijas para la madera cada paquete cuesta US 12 dólares, 6 unidades de pasta para darle brillo al producto vales US 6 dólar cada unidad y 10 hojas de seguetas las que valen US 4 dólares 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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