Francisco José Mendoza Galeano

Francisco Mendoza works in the city of León offering repair services for TVs, radios, fans, and irons, among other things, having distinguished himself as an electronics repairman, or provider of repair services. Mr. Mendoza now faces the need to invest in the purchase of supplies for his business and for this he has turned to Ceprodel, trusting that his loan will be granted so he can advance his electronics' repairs business.

Translated from Spanish by Michelle Harrison, Kiva Volunteer

El señor Francisco Mendoza se dedica a laborar en la ciudad de León brindado servicios de reparación de televisores, radios, abanicos, planchas entre otros habiéndose destacado como radiotécnico o servicios electrónicos.

La situación que hoy en día atraviesa el señor Mendoza es que necesita invertir en la compra de repuestos para su negocio y para ello ha acudido a Ceprodel confiando en que su crédito será otorgado y de esta forma saldrá adelante en su negocio de servicios electrónicos.




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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