Donald Cristian Umaña

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Donald is 52 years old and lives in the Riguero neighborhood. He is married and his wife is a merchant with two children that are 11 years old. They are twins and he has them both studying. He has worked as a driver for the last nine years and also sells fruit. His plans for his family are to always support his wife so that his children have what they need to become professionals. He started his business selling fruit with his own money to help a little with household expenses. Financially, his plans are to increase the sales of his products with the purchase of fruits such as: apples, grapes, strawberries and beverages such as: sodas, juices, etc. Thanks to the loans from Afodenic (a Kiva field partner), he will be able to increase his inventory and increase the usefullness that will benefit his family.

Translated from Spanish by Megan Tatman Montgomery, Kiva Volunteer

El Sr. Donald tiene 52 años de edad, habitante del barrio Riguero, casado su esposa es comerciante con dos hijos de 11 años de edad, son gemelos y los tiene estudiando. Trabaja como conductor desde hace nueve años y vende productos de frutas. Sus planes familiares son apoyar a su esposa siempre para que sus hijos tengan lo necesario para ser unos profesionales .Inicio su negocio con ventas de frutas, con dinero propio para ayudar un poco más en los gastos de la casa.
En lo económico son aumentar la venta de sus producto con la compra de frutas como: manzana, uva, fresa y productos de bebidas como: gaseosas, jugos, etc. Gracias a los préstamos de Afodenic lograra el aumento de inventario y una mayor utilidad que beneficiará a 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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