Blanca Nidia Corrales Aguilar

Blanca Nidia Corrales Aguilar is 42. She has two minor daughters who still go to school. As is common, she is a single mother.

Blanca’s business is selling clothes and shoes. She also has a small mini market in her home. She started this business eight years ago. She started as a street vendor selling clothes and shoes from a basket. She did this until her eleven and twelve year old daughters gave her the idea to set up a mini market in their home. This way the little ones promised to tend the store when they were not in class. Then, their mother, Blanca, would be able to sell the other articles. Blanca then got many customers to whom she gave her home address. This way she does not have to walk too much, and her daughters can completely devote themselves to their studies. Her daughters will be entering the university.

Her dream is to expand her business and open a general store. Her biggest challenge is to finish preparing her daughters. In order to do this she needs to keep her business stable.

That is why she needs a loan. She needs help to stock her mini market in order to meet the demands of her neighborhood.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

Blanca Nidia Corrales Aguilar tiene 42 años de edad, y tiene 2 hijas menores de edad y que aun van a la escuela, como es común, ella es una madre soltera, el negocio de Blanca es la venta de ropa, zapatos y una pequeña pulpería en su hogar, empezó con este negocio desde hace 8 años, empezó vendiendo ropa y zapatos en la calle de manera ambulante con una canasta, hasta que sus hijas de 11 y 12 años le dieron la idea de establecer una pulpería en su hogar de habitación, de esta manera las pequeñas se comprometieron en atender la pulpería en el tiempo que no estuviesen en clases y asi su mama Blanca podría salir a vender los otros artículos, luego Blanca obtuvo muchos clientes a quienes les dio la dirección de su casa y no tener que caminar demasiado de esta manera sus hijas pueden entregarse por completo al estudio ahora que ya están por entrar a la universidad, su sueño es ampliar su negocio y establecer una miscelánea y su mas grande desafío es terminar de preparar a sus hijas y para lograr esto necesita mantener su negocio estable es por eso que necesita que se le otorgue un préstamo que le ayude a surtir su pulpería para abastecer todo el reparto en el cual vive.


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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