Luciano Aragon Suarez

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Luciano is married and lives in Polvasan de la Libertad with his family. He has 4 children, 2 from his first marriage, who are adults, and two with Josefina, who are 19 and 16 years old respectively and who help out with the farm chores.

His main commercial activity is dairy farming but he also raises cattle which he sells when they reach a weight of 300kg.

He is asking for his 8th loan in order to buy 6 calves to fatten up, develop, and sell when they reach the required weight, so that he can earn better profits that will allow him to support his family. His farm has the required conditions for this type of activity which he has been undertaking for several years.

His greatest wish is to have his businesses as he envisions them and to improve his farm because it is his family's only asset.

Translated from Spanish by Michael Bujazan, Kiva Volunteer

Don Luciano es casado, habita en la Cmca. Polvasan de la Libertad junto a su familia, tiene 4 hijos, 2 mayores de edad de su primer matrimonio, y 2 con doña Joselina de 19 y 16 años respectivamente, los cuales le apoyan con el trabajo de la finca. Su actividad principal es la comercializacion de leche, pero ademas se dedica a engordar y desarrollar terneros y los vende cuando pasan de 300 kg. Esta solicitando su 8vo credtio para comprar 6 terneros para engordarlos, desarrollarlos y venderlos cuando tengan buen peso, y obtener mejores ganancias que le permitan el sosten familiar, su finca cuenta con las condiciones necesarias para realizar esta actividad, la cual realiza desde hace varios años. Su mayor deseo es poder realizar sus negocios como los tiene previstos y mejorar su finca ya que es el patrimonio de su familia.


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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