Jose Ernesto Gutierrez García

José Ernesto Gutierrez has sold bicycle replacement parts in the town of San Rafael del Sur for the past four years. He has learned much about bicycle repairs and this is why he is visited by many customers both to have their bicycles repaired and to buy replacement parts. The financing he is requesting will be used to buy replacement parts and accessorieis for bicycles to sell and, when a customer buys said parts, to install them on their bicycles. For this reason he hopes that the loan will be approved so that he can continue to develop in his chosen line of work.

Translated from Spanish by Michael Bujazan, Kiva Volunteer

La venta de repuestos para bicicletas es la actividad a la que se dedica el señor José Ernesto Gutierrez en el municipio de San Rafael del Sur desde hace cuatro años. Ha adquirido mucha habilidad en la reparación de bicicletas y por esto es muy visitado por los clientes tanto para reparar sus bicicletas como para comprar los repuestos.

El crédito que solicita es para la compra de los repuestos y accesorios para las bicicletas para así comercializarlas y cuando un cliente le compre tales repuestos lograr instalarlo en dicha bicicleta. Es por este motivo que espera en que el crédito le será otorgado y así logrará continuar desempeñándose en su actividad.




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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