Claudia Cordelia Sierra

Claudia Cordelia Sierra is 55 years old, married, and has 2 dependent children. She has been operating a grocery store for the past 4 years. She started this business because she and her husband did not have a steady source of income, so they decided selling groceries would be a good way to help cover their living expenses.

For this reason, Claudia is requesting a loan to use as operating capital to buy paper, rice, beans, juices, soap, detergent, oil, and other products. She hopes to succeed in meeting all of her goals.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

Claudia Cordelia Sierra tiene 55 años. Es una mujer casada. Tiene 2 hijos a su cargo. La actividad económica a la que se dedica es una pulpería. Hace más de 4 años que se dedica a esta actividad. Ella decide iniciar este negocio porque su esposo y ella no tenían un ingreso estable, por lo que deciden establecer una pulpería que le ayude a sufragar los gastos de su familia. Es por esto que solicita el financiamiento es para capital de trabajo para la compra de papel, arroz, frijoles, jugos, jabón, detergente, aceite entre otros. Su deseo es que logre alcanzar todas sus metas propuestas.


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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