Jose Francisco Bidea Espinoza

Mr. Jose Francisco is 33 years old, lives in the Enrique Smit neighborhood, he has two sons with his wife, 6 and 10 years old. His business is the sale of natural remedies. He has been in sales for twelve years. He started his business with his own money. He buys all his remedies at the oriental market, they consist of zepol, cofal fuerte, panadol and others. With the proceeds of this loan he will buy products which he can sell in the departments and attract customers. He plans to grow his inventory and support the education of his children.

Translated from Spanish by Laura Bobbit, Kiva Volunteer

El señor José Francisco tiene 33 años de edad, reside en el barrio Enrique Smit, su esposa le tiene dos hijos, de 6 y 10 años de edad, su negocio es la venta de medicina natural, lleva doce años en las ventas, que inicio con fondos propios, todo estos medicamentos los compra en el mercado oriental, los cuales son: zepol, cofal fuerte, panadol, y otros. Con este crédito va a comprar medicina para vender en los departamentos y poder captar clientes. Sus planes es poder crecer en inventario y poder mantener los estudios a sus hijos.


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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