Maria Antonia Ruiz Montes

Maria Antonia Ruiz Montes has run a small grocery store for the past 3 years. She is 39 years old and has 3 children, all of whom, thanks to Maria's great efforts, are full-time students. She began by selling bags of ice and soft drinks which generated a good client base that led to decent profits. Now she would like to invest a bit more in her store. The financing she is seeking is to purchase inventory items such as snacks, juices, soft drinks, bread, detergent, soap, etc. Her greatest dream is to offer her clients good customer service and to be able to make improvements to her home.

Translated from Spanish by Michael Bujazan, Kiva Volunteer

María Antonia Ruiz Montes tiene la actividad económica de una pulpería. Hace más de 3 años que se dedica a este negocio. Ella tiene 39 años de edad. María tiene 3 hijos, y todos estudian por el mayor sacrificio que realiza Doña María. Su negocio se dio porque ella decide vender bolsas de hielo y refrescos por lo que tuvo bastante influencia de clientes, por lo que le genero ciertas ganancias y decide invertir un poco más en este negocio. El financiamiento que solicita es para capital de trabajo para la compra de productos como golosinas, jugos, refrescos, pan, detergentes, jabón entre otras cosas. Su mayor sueño es ofrecer un buen servicio a sus clientes y proporcionarles mejoras a su vivienda.


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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