Fatima Del Socorro Lopez Sanchez

Fatima works selling clothing and cosmetics by request and on credit. She is 34 years old and lives in a neighborhood called Villa Reconciliacion. Her husband works as a chemical engineer. When Fatima began her business she used money from her previous job and money from her husband to start. She would like to use the money from this loan to construct another room in her house which she can rent out to earn more income. This will be her fifth loan and she's pleased with Afodenic for their support. In the future, she would like to continue to improve her home.

Translated from Spanish by Emily Charnes, Kiva Volunteer

La señora Fátima se dedica ala venta de ropa y cosméticos vende al contado y al crédito a la quincena, tiene 34 años de edad, reside en el barrio Villa reconciliación, su esposo es ingeniero químico. Cuando inicio su negocio lo hizo con fondo de su liquidación de su trabajo y con ayuda de su esposo pudo comenzar. Su proyecto con este crédito es la construcción de un cuarto con el objetivo de alquilarlo para obtener otros ingresos, este es su quinto ciclo de préstamo que esta muy contenta con Afodenic por ser parte de sus metas adquirida. Sus planes a futuro es poder seguir mejorando su vivienda.




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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