Small business entrepreneur Francisco José B. is a native of the city of Bluefields, is 49 years old, is married to Mrs. María del Socorro Urbina, and together they have 3 children. The only income that the entrepreneur has is that of his business. Mr. B. has been a distributor of basic food staples and dairy products for 11 years. He offers beans, cheese, and yuca and malanga root, among other things, having as clients owners of general stores that prefer him because he offers a variety of products. This is the second loan for this small business entrepreneur. It should be noted that the demand for the products that he sells has not diminished since they are widely consumed by the population. Right now he needs to buy: five 100 lb. bags of beans at US$50.00 per bag, and three 100 lb. blocks of cheese at US$120.00 per block. With this investment, he will be able to meet the ever-increasing demands of his clients.
Translated from Spanish by Diane Lister, Kiva Volunteer.
El Microempresario Francisco José B. es originario de la ciudad de Bluefields, tienen 49 años de edad, esta casado con la Sra. María del Socorro Urbina, ambos tienen 3 hijos. El único ingreso que tiene el microempresario es el de su negocio. El Sr. B. es distribuidor de productos básicos y lácteos hace 11 años donde ofrece (frijoles, queso, yuca, malanga entre otras cosas) teniendo como clientes a los propietarios de las pulperías que lo prefieren por ofrecer una variedad de productos. Este es el segundo crédito del microempresario. Cabe destacar que los productos que el oferta no han disminuido su demanda ya que son de alto consumo para la población. En estos momentos necesita comprar: 5 quintales de Frijoles a $ 50.00 dólares el quintal y 3 quintales de queso a $ 120.00 dólares el quintal con esta inversión podrá satisfacer la demanda de sus clientes que cada día aumenta.
Please note that Kiva considers loans from this Field Partner, ADEPHCA, to be particularly high risk. This organization is very small and started working with Kiva before certain core risk and due diligence policies were put into place. ADEPHCA organization would not fit under Kiva’s current partnerships criteria because they do not have any audited financial statements, they do not have established internal controls, and they currently have no other sources of funding than Kiva. Kiva continues to allow ADEPHCA to raise funds on the website for two reasons. First, if Kiva were to abruptly end the partnership we believe there would be a higher risk of loss for lenders, since cutting off the Kiva funding source would put ADEPHCA in a financially distressed position. In addition, since ADEPHCA provides loans in some of the poorest and most remote areas of Nicaragua where there are almost no other options for funding, we believe these loans could still be of interest to lenders even considering the increased risk.