Zenzontle Group

Photo from left to right: María Teresa López, Milagros de los Angeles Flores, Alma Nubia Cano López and Elba Rosa Sandoval.

María Teresa López is part of the supportive group, Zenzontle. She has a mini market in her house. With a loan she was able to buy more products to meet her customers’ needs. She is single and has two daughters. They help her with the business so that she can go shopping at the market. With this loan she thinks she will be able to have a bigger store.

Milagros de los Angeles is a single mother who lives with her two adolescent children. They help her with her business of making hammocks. She learned this trade from her parents, and she is teaching her children. She dreams of having a good shop and giving her children a high school education.

Alama Nubia Cano López has a small bakery in her house. She makes and sells the bread in her house. She sells to customers who buy wholesale. With three sons, she does not hire helpers. She takes advantage of the familial helping hands. Her sons go to school and help with the business. Her husband works in a shoe shop and helps with household expenses. With the loan she will buy flour, sugar and wood for the stove.

Elba Rosa Sandoval is the coordinator of the group. She has a store in her house. She sells basic necessities, which she buys at the market. She has two daughters. One is in her last year at the University. The other, 16, will be finishing high school. It took great sacrifice to be able to educate her daughters because her husband abandoned her. She was responsible for supplying them with all of the necessities.

Their living conditions are humble. They came to work with Adim through a promotion done in the region. They liked the way Adim works. They do not have collateral for a loan, but Adim had faith in them.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

Foto de Izquierda a derecha: María Teresa López, Milagros de los Angeles Flores, Alma Nubia Cano López y Elba Rosa Sandoval.

El grupo solidario Zenzontle está conformado por las señores: Doña María Teresa López quien tiene una minipulpería en su casa, con el crédito logró comprar más productos para satisfacer las necesidades de los clientes. Ella es mujer sola con dos hijas, estas le ayudan en el negocio y así ella puede salir a comprar al mercado. Piensa que con el crédito logrará tener una pulpería más grande.
Doña Milagros de los Angeles, es una madre soltera que vive con sus dos hijos jóvenes, ellos le ayudan en su negocio que es la elaboración de hamacas, este oficio lo aprendió de sus padres y ella se lo ha enseñado a sus hijos. Sueña con tener un buen taller y darle estudios secundarios a sus hijos.
Doña Alama Nubia cano López tiene una pequeña panadería en su casa, ella procesa el pan y lo vende en su casa, entrega a varios clientes que le compran al por mayor, con sus tres hijos varones ella no contrata ayudantes porque aprovecha la mano de obra familiar, sus hijos son jóvenes que estudian y ayudan en el negocio. Su esposo trabaja en taller de calzado y le ayuda a los gastos del hogar.Espera con el crédito comprar materia prima como harina, azúcar y leña para el horno.
Doña Elba Rosa Sandoval es la coordinadora del grupo, ella tiene una pulpería en su casa, ofrece productos de primera necesidad , compra los productos en el mercado. Ella tiene dos hijas, una de ellas cursa el ultimo año de la universidad y la otra de 16 años que terminará el bachillerato. Con mucho sacrificio ha logrado que sus hijas estudien porque su esposo la abandonó y ella ha tenido que suplir todas las necesidades.
Viven en condiciones de vida humildes, llegaron a trabajar con Adim por una promoción que se hizo en la comarca y les gustó la forma de trabajar porque ellas no tienen garantías que dar para un crédito y en Adim se les dio confianza.




Important Information About This Loan
In mid 2008, a movement began in Nicaragua called “Movimiento No Pago” (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 making it difficult for some branches of microfinance institutions to operate normally. This movement has been fed by the global the economic crisis, which has made it more difficult for Nicaraguans to pay back their loans. This group has submitted a law to the government to create a moratorium on debt repayment. If passed, the law could have a severe effect on the microfinance industry and banking sector in Nicaragua. Recent information indicates that the situation may be improving as the President of Nicaragua has spoken out against this law and would not support its passage in its current form. The network of microfinance institutions in Nicaragua (ASOMIF) has been negotiating with the government in support of an alternative proposal. Kiva, along with 25 other funders from 9 countries, has signed onto a letter to the Nicaraguan government urging a resolution to this situation without enacting a moratorium on debt repayment. The potential passage of the debt moratorium increases the risk of lending in Nicaragua. For more information, please see the following articles: http://impreso.elnuevodiario.com.ni/2009/09/24/nacionales/110236; http://www.laprensa.com.ni/archivo/2009/octubre/16/noticias/economia/355010.shtml


About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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