Noel Ernesto Melendez Flores

Noel Ernesto Meléndez Flores is 48 years old and in a civil union. He has three dependent children: a 14-year-old son in his second year of high school, a 3-year-old daughter not yet in school, and a 24-year-old son no longer a student. Noel's dream is to provide land for his children to build a house on, so they will not have to worry about the future. This is the reason he works hard at his business, despite the difficult economic situation in his country.

Noel has a small general store that sells sweets, liquor, sardines, soup, etc. With the help of a loan from Fundación León 2000, he began his business by selling hot dogs, sandwiches, and soft drinks. To meet his customers' demand, he decided to create a permanent shop and sell more items.

Noel will use this loan as working capital that he will invest in obtaining a variety of merchandise. He will stock up on the most popular products for the holiday season, including sugar, cooking oil, and soft drinks.

Noel is grateful to be able to work with Fundación León 2000 and the other organizations that have contributed to his business.

Translated from Spanish by Kris Vickery, Kiva Volunteer

El señor de nombre Noel Ernesto Meléndez Flores su edad es de 48 años, su estado civil es acompañado, este señor tiene 3 hijos sus edades son las siguientes: su hijo varón tiene la edad de 14 maños y cursa el 2 año de secundaria, una niña de 3 años que no estudia, un varón de 24 que no estudia y todos sus hijos dependen de el, en sus deseos esta darle un terreno a sus hijos para que puedan construir una casa y no tengan que pasar necesidades para el día de mañana en sus propósitos esta el mantener siempre activo su negocio por lo difícil que se encuentra la situación en el país.


La actividad económica a la que Don Noel se dedica es una pulpería en lo que vende los productos de: golosinas, licor, sardinas, sopas y otros, el inicia por cuenta propia e inicia vendiendo hot dog, emparedado, y refrescos y con la ayuda de un préstamo que había realzado anteriormente con la Fundación León 2000 y es entonces que decide incrementar su negocio y empezó con abastecer un estante y así poder satisfacer la demanda de sus clientes, el financiamiento es para capital de trabajo por lo que necesita abastecer mas sus estantes de diferentes productos y quiere realizar la compra de azúcar, aceite y gaseosa por lo que se avecinan los días festivos ya que estos son los productos que mas se venden para esta temporada y agradece trabajar siempre con fundación león 2000 y otras organizaciones que han contribuido a su negocio.



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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