Omar De Jesus Corea Lopez

Omar is 48 years old and married. He has four children, one of whom is financially independent. His wife is a homemaker and spends time looking after the home and the other three children.

Omar grows pineapples on land that he owns. He has made a living cultivating pineapples for several years now, and has used previous loans to successfully improve the quality of his product.

The pineapple harvest is now approaching, and Omar is requesting the present loan so that he can purchase the last supplies he needs for the harvest and ensure that his product will be of the best quality.

Translated from Spanish by Chris Knutson, Kiva Volunteer

Don Omar es casada y tiene 48 años de edad. Su familia está compuesta por 4 hijos, de los cuales sólo uno ya es independiente a él. Su esposa es ama de casa y se dedica al cuido del hogar y de sus otros tres hijos.

Don Omar se dedica al cultivo de piñas unas tierras de su misma propiedad. Ya tiene varios años de dedicarse a esta actividad y por medio de préstamos ha ido mejorando la calidad de su productos.

La cosecha de piña está próxima, y solicita el préstamo para comprar los últimos insumos necesarios para aplicárselo al producto y que este salga 100% de buena calidad.

Important Information About This Loan
Kiva recently posted a message regarding the “No Pago” movement in Nicaragua (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 had submitted a law to the government to create a moratorium on debt repayment. Initially it was unclear whether this law would pass, which would have had severe effects on the banking and microfinance industry in Nicaragua. However in the last month the executive branch rejected the law in its current form. The No Pago movement still exists but seems to have lost some steam. There is still a possibility that a law encouraging more restructuring of loans could pass next year, and microfinance institutions are voluntarily restructuring loans to delinquent borrowers, still increasing risk of lending in Nicaragua. However indications are that the situation is less dramatic than before.

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