Grupo Solidario Amor Y Paz Group

The support group "Amor y Paz" (Peace and Love) is comprised of Karla Vanesa Portillo Hernández and Johana del Socorro Bermúdez. Karla has two children who are minors. She has had a business selling CDs and DVDs for more than four years. Sometimes she sells her products as a street vendor so her customers will know what the new movies are and she can offer them the most recent ones since one of her goals is to offer her customers better service. The financing she is requesting will go towards working capital so she can increase her working capital. Karla's dream is to buy two motorcycle rickshaws so she can generate more income for her family.

Her friend Johana has three children who are under her care. She makes and sells tortillas. She has had this business for more than twelve years. It is located in her humble home because the majority of her customers come to her home. These two women are fighters. The financing they are requesting will go towards working capital to buy supplies. Johana's dream is to own a grocery store to help her children.

Translated from Spanish by Tanya Harper, Kiva Volunteer

El Grupo Solidario Amor y Paz está conformado por Karla Vanesa Portillo Hernández y Johana del Socorro Bermúdez. Karla tiene 2 hijos que son menores de edad. La actividad económica a la que se dedica es la venta de CD y DVD. Hace más de 4 años que se dedica a este negocio. Por lo que algunas veces sale a vender sus productos de manera ambulante, por lo que así sus clientes conocen de las nuevas películas y así ofrecerle lo mas reciente y nuevo ya que en sus propósitos está el de ofrecerle a sus clientes un mejor servicio. Ella solicita es financiamiento que solicita es para capital de trabajo para incrementar en su inventario. El sueño de Karla es realizar la compra de 2 motos taxis, que le permitan generar más ingresos para su familia. Su amiga Johana tiene 3 hijos, y están a su cargo. La actividad económica a la que ella se dedica es la venta y elaboración de tortillas. Hace más de 12 años que se dedica a este negocio. La ubicación de su negocio es su humilde vivienda, por lo que la mayoría de sus clientes recurren a su vivienda. Las dos son mujeres muy luchadoras. El financiamiento que solicitan es para capital de trabajo para la compra de materia prima. El sueño de Johana es obtener una pulpería para ayudarles a sus hijos.


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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