Tersesa Luz Conrado Traña

Teresa Luz Conrado is 65 years old. She is a single mother. She has 2 children under her care. She runs a small general store. She has dedicated herself to this business for over 13 years. Her humble business is located in her home. She does most of her shopping at the market. She has clients who buy candies amongst other things. Teresa is a very pleasant woman and through this business he has been able to survive and cover her expenses. The loan will be used as work capital to purchase candies, basic grains, and other every day products. Teresa’s dream is to offer her family financial stability.

Translated from Spanish by Mariela Cedeno, Kiva Volunteer

La Señora Teresa Luz Conrado tiene 65 años. Es una madre una madre soltera. Tiene 2 hijos a su cargo. Por lo que su actividad económica es una pulpería. Hace más de 13 años que se dedica a este negocio. La ubicación de su humilde negocio es en su vivienda. La mayoría de sus compras las realiza en el mercado. Ella tiene sus clientes a quienes compra las golosinas entre otras cosas, Teresa es una mujer muy agradable y por medio de este negocio ha podido sobrevivir y sufragar los gastos. El destino del financiamiento es para capital de trabajo para la compra de golosinas, granos básicos y productos diarios. El deseo de Teresa es brindar una estabilidad económica a su familia.


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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