Geronima Esperanza Blanco

Mrs. Geronima Esperanza Blanco is 63 years old and married. She has been in the business of selling tortillas for over 41 years. Geronima is a very responsible woman who has helped her children become successful. It was for this reason she decided to go into business. Her business belonged to her family, but it wasn’t until much later that she decided to take it over.

This is not the first time Geronima has taken out a loan. As you can see, Fundación Leon is asking assistance from Kiva on behalf of people who have the desire to succeed. Her requested loan will be used as working capital to purchase corn, wood, lime and other raw materials. Geronima’s dream is to make improvements to her home so that she does not have to worry about them in the future.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

La señora Geronima Esperanza Blanco tiene le edad de 63 años. Es una mujer casada. Su actividad económica es la venta de tortillas. Hace más de 41 años que se dedica a este negocio. Geronima ha sido una mujer muy responsable, que le ha ayudado a sus hijos a salir adelante, por lo que inicia este negocio por cuenta propia, y es un negocio que ha descendido de su familia, por lo que más tarde decide hacerse cargo del negocio, no es la primera ves que Geronima realiza financiamientos, ya que ha logrado observar, que es por medio de Fundación que kiva ayuda a las personas que desean salir adelante. El financiamiento que solicita es para capital de trabajo para la compra de maíz, leña, cal entre otras cosas de materia prima. El sueño de Geronima es proporcionarle mejoras a su vivienda para el día de mañana no sufrir necesidades.


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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