Kari Marina Sandoval Hernandez

Kari Marina Sandoval Hernandez is 39 years old. She is a married woman and she has 2 children in her care. She has a grocery store business. She has been running this business for the past 10 years. She saw early success because Kari loves to work and she wanted to help out with the family's expenses and wanted to provide her children with an education.

The loan she seeks is to be used as working capital used towards the purchase of basic grains, snacks, detergents and common daily-use products. Kari's dream is to be able to offer every kind of product to her clients.

Translated from Spanish by Erika Lindig, Kiva Volunteer

Kari Marina Sandoval Hernández tiene la edad de 39 años. Es una mujer casada. Tiene 2 hijos a su cargo. La actividad económica es una pulpería. Hace más de 10 años que se dedica a este negocio. Sus inicios surgen por que a Kari le gustaba trabajar, y tenía que ayudar en los gastos de su familia y proporcionarles a sus hijos estudios. El financiamiento que solicita es para capital de trabajo para la compra de granos básicos, golosinas, detergentes y los productos de consumo diario. Los sueños de Kari son de ofrecer todo tipo de productos para sus clientes.


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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