Bismarck Antonio Miranda.

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The small businessman Bismarck Antonio Miranda is 43 years old, married, and has 4 children who study in school. Since he was 25 years old, he has had a barbershop in the city of Bluefields. According to Señor Miranda, he offers his customers his services, selling soft drinks and offering cable TV for their entertainment while he cuts their hair.

This businessman has already benefited from a Kiva loan that allowed him to hire 2 other people who also cut hair, so that he could increase his income. He would like to thank the lenders who trusted in him by handing over their money; this money has already been paid back to ADEPHCA, a partner with Kiva.

Now he wants to improve the condition of his business, and for this reason he is requesting a loan to buy the following items: a barber chair valued at $700 US dollars, 2 hair clipper machines, each valued at $50 US dollars, and a refrigerator valued at $200 US dollars.

According to businessman Miranda, both the barber chair and the refrigerator are needed since the ones he has have deteriorated and need to be replaced.

Translated from Spanish by Lisa Grobar, Kiva Volunteer

El microempresario: Bismarck Antonio Miranda tiene 43 años de edad, es casado con 4 hijos, los cuales se encuentran estudiando. El microempresario Miranda se dedica a la actividad de barbería desde hace unos 25 años en esta ciudad de Bluefields. Según el señor Miranda el ofrece a los clientes sus servicios de venta de refrescos y a la vez pone a su disposición un televisor con cable para que se entretengan mientras esperan para que se les realice su corte de cabello.

Este microempresario ya ha sido beneficiado con un préstamo por parte de kiva el cual le permite poder contratar a otras dos personas para que también realicen ente tipo de actividad y poder mejorar sus ingresos. A la vez aprovecha para agradecer a los prestamistas que han confiado en el entregando sus dineros el cual ya este ya ha regresado a ADEPHCA como socia de Kiva.

Actualmente quiere mejorar sus condiciones en el negocio y por tal razón esta solicitando para comprar los siguientes artículos:

Una silla de barbero que esta valorada en US 700 dólares, 2 maquinas de cortar cabellos valoradas cada una en US 50 dólares y una refrigeradora valorada en US 200 dólares.

Según el microempresario Miranda tanto la silla de barbero como la refrigeradora las necesita ya que las que tenia en uso se deterioraron y debe remplazarlas.



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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