Daniel Santos Rojas Romero

Daniel is married with three children at the ages of 15, 13 and 8 years. His business is in the elaboration of bricks and tiles for the construction of homes and roofs. He will use this loan to purchase materials such as wood and clay needed to form the bricks and tiles. Daniel learned this trade from his father and has spent his years mastering the skills. Little by little, he has managed to establish his own workshop; he now has two kilns and established clients. Previous loans from Fundacion Leon 2000 have helped him to acquire his own truck and some cattle. He has seen a drop in the demand for his product in recent months. Daniel dreams that his children will have successful futures and that economic conditions improve for his business.



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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