Martha Del Socorro Espinoza Parrales

Martha del Socorro Espinoza is 51 years old and married. She has four children. She works selling basic grains. She has run this business for more than six years. Her shop is located in her home. Her business is run with little capital, but with much desire to get ahead. She must pay her household expenses as well as provide food and education for her children. Little by little she has increased her inventory using the small income her business generates. Her customers return to her shop because Martha is very helpful and always attends to her customers with a smile. The funds she is requesting will be used as capital to purchase rice, sugar, beans, oil and corn. Her greatest dream is for her children to complete their studies and get ahead. With this work she is able to help them succeed.

Translated from Spanish by Kristen Beck, Kiva Volunteer

La Señora Martha del Socorro Espinoza tiene la edad de 51 años. Es una mujer casada. Tiene 4 hijos a su cargo. La actividad económica es la venta de granos básicos. Hace más de 6 años que posee este negocio. La ubicación de su negocio es en su vivienda. Por lo que sus inicios surgen con muy poco capital, pero con muchas ganas de salir adelante. Por lo que tenía que pagar las cuentas de su vivienda y además proporcionarles a sus hijos estudios y alimentación. Poco a poco fue incrementando su inventario con las pocas ganancias que su negocio le generaba, sus clientes recurrían a su pulpería ya que la atención de Martha es muy buena y además atiende a sus clientes con una sonrisa en sus labios. El financiamiento que solicita es para capital de trabajo para la compra de arroz, azúcar, frijoles, aceite y maíz. Su mayor sueño es que cada uno de sus hijos logren finalizar sus estudios y que sigan adelante con esta actividad que les ayudo a salir adelante.


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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