Anibal Gonzalo Mendoza Téllez

Anibal Mendoza originally comes from the city of Chnandega, working in the sale of plantains in the Central Market where he has worked for four years. It is important to mention that he is able to carry out this activity by supporting himself with credit from Ceprodel which he has invested directly in buying plantains to sell them.

Now, once more, he has turned to Ceprodel for support to get a credit as his plantains have run out and he urgently needs to buy more to sell more. For this reason he confidently waits for his credit to be approved and he will be able to improve the condition of his business

Translated from Spanish by Liz Harvey, Kiva Volunteer

El caballero Anibal Mendoza es originario de la ciudad de Chnandega desempeñándose en la venta de plátanos en el mercado Central donde labora desde hace cuatro años. Es importante destacar que esta actividad la lleva a cabo apoyándose de los créditos brindados por Ceprodel el cual los ha invertido directamente en la compra de los plátanos para su venta.

Hoy en día una vez más ha acudido al apoyo de Ceprodel para obtener un crédito debido a que sus plátanos se le han agotado y le urge comprarlos para venderlos. Por esta razón él espera muy confiadamente que su crédito será otorgado y logrará mejorar la condición de su negocio.




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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