Verónica Asunción Morales Vásquez

Verónica is 38 years old and is married with five beautiful children ages 6, 8, 9, 10 and 15. Her husband works as a welder and they live in the Casimiro Sotelo neighborhood. Veronica works with her husband in the administration of the welding shop which they established with their own capital 15 years ago. She is in charge of inventory control and of purchasing prime materials. Her 15 year old son and two workers also help at the shop. They hope that the business can continue to grow as it has been until now so that they can provide more services and improve the services to their clients. They need to invest in their home by installing a roof which is why they need this loan.

Translated from Spanish by Cindy Manzo, Kiva Volunteer

Doña Verónica es casada, con una hermosa familia de cinco hijos, con edades de 6, 8, 9,10 y 15 años de edad, habitan en el barrio Casimiro Sotelo, tiene 38 años de edad, y su esposo trabaja como soldador. Doña Verónica trabaja con su esposo en la administración del taller de soldadura que iniciaron con capital propio desde hace quince años, ella es la encargada de control de inventario y de las compra de materia prima, también ayudan su hijo de quince años y dos trabajadores. Esperan que el negocio pueda seguir creciendo como hasta ahora lo ha hecho, y así poder dar servicios a más clientes y mejorar el servicio de los clientes que están con ellos. Necesitan hacer una inversión en su vivienda como es la instalación del techo para eso necesitan comprar perlines y zinc es por eso el motivo del préstamo


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.


About Housing Loans
Many poor families are financially unable to purchase a house that meets their needs. Housing loans funded on Kiva give families access to capital to improve their homes and an opportunity to pay loans back at a pace that they can handle. The housing and small business loans featured on Kiva share a common purpose: they alleviate conditions of poverty and enable families to lead more stable lives. Learn more

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