Francisca Guido Hernandez

Francisca Guido Hernandez is 40 years old, she is a single mother to two children, both of whom are going to school. She sells basic grains and she has been running this business for more than three years. She decided to set up her business because she has an entrepreneurial spirit and she is hard working. She sells common daily-use products, now starting to sell soaps, detergents and fresh fruit juices. Her aunt connected her with Fundacion Leon 2000 (Kiva Field Partner) and with the help of these loans she has seen success in her business. She requires a loan to be used as working capital, to purchase corn, beans, cooking oil and sorghum. Her wish is to purchase a store where she can sell all the basic grains and be able to store them.

Translated from Spanish by Erika Lindig, Kiva Volunteer

Francisca Guido Hernández tiene la edad de 40 años. Es una madre soltera. Tiene 2 hijos a su cargo y todos estudian. La actividad económica es la venta de granos básicos. Hace más de 3 años que se dedica a este negocio. Ella decide establecer este negocio porque es una mujer luchadora y emprendedora, es por eso que decide vender productos de consumo diario, y comienza a vender jabón, detergentes y refrescos naturales, por medio de una tía decide realiza un financiamiento a Fundación León 2000, y con la ayuda de los financiamientos ha logrado salir adelante con su negocio. Y ahora solicita otro financiamiento para capital de trabajo para la compra de maíz, frijoles, aceite y sorgo. Su deseo es comprar bodega recoger todos los granos básicos y almacenarlos.


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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