Rosa Patricia Lopez Garcia

Rosa Patricia López is 29 years old, is married, and has two children who are 8 and 10 years old and are in primary school. Her husband works as a mason in various neighborhoods in Managua. She lives in the Laureles Sur neighborhood. She works as an inspector in a free trade zone, which is a difficult job because of poor treatment by the factory owners and low wages. However, for the prosperity and wellbeing of her family she continues working, and because of the unemployment that is more critical every day in Nicaragua. With the loans she has received from Afodenic she has been able make improvements to her house. Construction materials are expensive and it is only with financing that people with low incomes are able to build. With this loan she will buy construction materials to finish a wall in front of and behind her house, to safeguard against criminals and to improve the security of her family. She hopes to have her own business and earn a better income.

Translated from Spanish by Jennifer Day, Kiva Volunteer

La joven Rosa Patricia López de 29 años de edad, casada con dos hijos de 8 y 10 años de edad, cursan la primaria, su esposo trabaja de albañil en los diferentes barrio de la capital de Managua, reside en Laureles Sur. Ella trabaja en zona franca de inspectora un trabajo duro por que tienen un mal trato los chinos como un salario bajo, pero por la prosperacion y bienestar de sus hijos sigue trabajando y por el desempleo es cada día mas critico en Nicaragua. Con los préstamos que Afodenic ha otorgado ha podido hacer las mejoras a su vivienda ya que los materiales de construcción están caros y solo mediante el financiamiento los pobres podemos construir. Con este comprara materiales de construcción para terminar muro en la parte de adelante como a tras de la vivienda para asegurarse un poco de los delincuentes y para mayor seguridad de su familia. Espera poder tener su propio negocio y ver mejores ganancias.


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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