Georgina Del Socorro Mendiola Meneses

Mrs. Georgina del Socorro Mendiola Meneses is the owner of a small grocery store located in the La Flores district, Masaya department. She is known in her community for her establishment, she is the mother of a young son who helps in the shop, her husband is a farmer of their own land. She decided to establish her business several years ago in order to have her own income and to be able to buy what she would like. Her dream is to improve the business until it is a medium-sized enterprise and to be able to provide a college education to her child.

Translated from Spanish by Erin Hopkins, Kiva Volunteer

Doña Georgina del Socorro Mendiola Meneses es propietaria de una pulpería ubicada en la Comarca Las Flores, del departamento de Masaya, es conocida en su comunidad por su establecimiento, es madre de un hijo joven que le ayuda en la pulpería, su esposo es agricultor en tierras propias. Decidió instalar su negocio hace varios años para tener ingresos propios y comprarse lo que le gusta, sus sueños es mejorar su negocio hasta que sea una mediana empresa y poder brindar estudios universitarios a su hijo.





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

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