Juan De Dios Espinoza Morales

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At 52 years of age, Juan has raised a beautiful family of two children who are studying at primary school in order to be good kids. Juan has been working as a security guard for two years so that he can have a fixed income with which to keep his family. Before this, he and his wife ran a general store but, due to low sales, he had to find a job in order be successful. His wife still works in the store and when he is also there they both sell a variety of products like: condensed milk, medicines, candies, sodas, food grains, and others. Among the difficulties they face is that in the winter there is a lot of mud in the neighborhood and the streets are in a bad state because of the rain. With this loan he will buy dried goods such as: rice, beans, sugar, corn, sweets, plus cosmetic products in order to improve the store's sales and gain more clients. For the future he wants to be well-stocked so that he can give his family some stability and a better standard of living.

Translated from Spanish by Alison Hynd, Kiva Volunteer

Don Juan Espinoza a sus 52 años de edad, ha logrado formar una bonita familia de dos hijos los cuales estudian la primaria para poder ser unos jóvenes educados. el señor Juan trabaja como guarda de seguridad desde dos años para poder tener un ingreso fijo para la mantención de su familia ya que anteriormente los dos se dedicaban a la pulpería pero por las ventas bajas tuvo que buscar un trabajo para poder salir adelante, su esposa es la que despacha y cuando el esta ambos venden un variedad de productos como: leche de pote, medicinas, golosinas, gaseosas granos básicos y otros. Entre las dificultades es que en tiempo de inviernos se hace mucho lodo en el barrio ya que las calles están en mal estado por las lluvias. Con este préstamo comprara granos básicos, como: arroz, frijoles, azúcar, maíz, golosinas, y productos de cosméticos para mejorar las ventas y captar mas clientela ya que en un futuro desea tenerla bien surtida a si como poder dar a su familia una estabilidad y mejores condiciones de vida.



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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