Martha Garcia

Martha García is 60 years old. She is a married woman. She has 1 child under her care. Her business is in the sale of breakfast and lunch. She has dedicated herself to this business for over 5 years. Martha has had to face many difficulties. Her biggest challenge is finding new clients, to whom she wants to be able to offer a variety of products. The loan will be used as work capital to purchase rice, beans, sugar, oil, and soft drinks. Matha’s dream is to own her own café.

Translated from Spanish by Mariela Cedeno, Kiva Volunteer

Martha García tiene 60 años de edad. Es una mujer casada. Tiene 1 hijo a su cargo. La actividad económica es la venta de almuerzos y desayunos. Hace más de 5 años que se dedica a este negocio. Martha es una mujer que tuvo que atravesar muchas dificultades. Su mayor desafío es encontrar nuevos clientes, para ofrecer la variedad de productos a sus clientes. El destino de su financiamiento es para capital de trabajo para la compra de arroz, frijoles, azúcar, aceite y gaseosas. El sueño de Martha es obtener un cafetín de su propiedad.


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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