Elí De La Cruz López Zapata

Location:	Leon, Nicaragua	Repayment Term:	20 months (more info)
Activity:	Catering	Repayment Schedule:	Monthly
Loan Use:	Purchase of machinery	Currency Exchange Loss:	Covered
		Default Protection:	Covered

Eli López is a gentleman who for six years has had a home business providing grinding services, which he takes great effort to attend to every day, from very early morning hours to late afternoon.

His wife and son are the reason he works day to day, to satisfy all their needs and further to complete his role as responsible father, giving food, sound shelter and education to his young son.

It is important to note that since he began his business, he has searched for a way to acquire new grinders but due to their high cost he has been unable to obtain them. For this reason, today he requested that CEPRODEL allow him to be granted a loan which he will invest in the purchase of the grinders so that he can continue giving his family sustenance every day.

Translated from Spanish by Mark Holmes, Kiva Volunteer

Eli López es un caballero que desde hace 6 años posee un negocio propio en su hogar de habitación como lo es el servicio de molino que muy esforzadamente atiende todos los días desde muy tempranas horas de la mañana hasta el atardecer.

Su esposa e hijo es el motivo por el cual se preocupa día a día por satisfacer todas sus necesidades y además por cumplir su rol de padre responsable brindando alimentación, techo digno y educación a su hijo menor de edad.

Es de importancia señalar que desde que inicio su negocio ha buscado la manera de cómo adquirir nuevos molinos pero por su alto costo no lo ha logrado es por esto que hoy en día acude a CEPRODEL consiente de que será beneficiado con créditos que los invertirá en la compra de los molinos para así continuar brindándole a su familia el sustento de cada día.

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.

Lenders to this entrepreneur

Valerie
Shalalth, British Columbia
Canada

Itzi & Dave
Puebla, Pue.
Mexico

Dan & Deborah
St. Louis, MO
United States

Mark Holmes
Mobile, AL
United States

David Gonzalez
Stanford, CA
United States

Kim
Kyoto,
Japan

Jeroly
Richmond Hill, NY
United States

Jonathan
Weston-super-Mare, Avon

Donna
FAIRFIELD, CA
United States

Patrick

Robin
la habra, CA
United States

Daniele
Brampton, Ontario
Canada

Steve
Culver City, CA
United States

Lydia+Leo
Thetford, Norfolk
United Kingdom

Maria I.
Chandler, AZ
United States

Emma
Nashville, TN
United States

Amanda

Evert
Rotterdam,
Netherlands

Michel
Brest, Bretagne
France

Sherry
FPO, AP
United States

Luca
Torino, Torino
Italy

Earl
Bainbridge Island, WA
United States

Ralph
Livingston, TX
United States

Michelle
Surrey, British Columbia
Canada

Anonymous

Susan
Raleigh, NC
United States

Joe
San Mateo, CA
United States

Indu
Dubai, UAE,
United Arab Emirates

Seth
Lakeway, TX
United States

Anonymous
Issaquah, WA
United States

Nini
Oakland, CA
United States

Ms. R.S.
Springville, TN
United States

Will
Portola Valley, CA
United States

Journal entries for Elí De La Cruz López Zapata

Loan has been disbursed Entrepreneur: Elí De La Cruz López Zapata Location: Leon, Nicaragua Thank you for your loan. It has been disbursed to Elí De La Cruz López Zapata by CEPRODEL in Nicaragua. We are excited to watch this business grow. Over the next 18 months, CEPRODEL will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Leon, Nicaragua Mar 7, 2008
Comment on this entry

Repayment Schedule for Elí De La Cruz López Zapata

Show Advanced

	Expected Repayments	Actual Repayments	Comments
June 2008	$65.28	$66.00	Repayment Received
July 2008	$65.28	$66.00	Repayment Received
August 2008	$65.28	$66.00	Repayment Received
September 2008	$65.28	$66.00	Repayment Received
October 2008	$65.28	$66.00	Repayment Received
November 2008	$65.28	$66.00	Repayment Received
December 2008	$65.28	$66.00	Repayment Received
January 2009	$65.28	$60.22	Repayment Received
February 2009	$65.28	$65.28	Repayment Received
March 2009	$65.28	$65.28	Repayment Received
April 2009	$65.28	$65.28	Repayment Received
May 2009	$65.28	$65.28	Repayment Received
June 2009	$65.28	$65.27	Repayment Received
July 2009	$65.28	$65.28	Repayment Received
August 2009	$65.28	$65.28	Repayment Received
September 2009	$65.28	$65.31	Repayment Received
October 2009	$65.28	$65.28	Repayment Received
November 2009	$65.24	$65.24	Repayment Received