El Doral Group

The group “El Doral” has been outstanding in their loan cycles. They are part of an elite club known as “Cero Mora”, which means they have never had a delay in repaying any of their loans.

These four women entrepreneurs are humble by nature, yet very enthusiastic and astute with their businesses.

María Granados is the group coordinator. She is 40 years old and has been operating a grocery store out of her home for 8 years. In recent years, her business comes and goes. However, in the last few loan cycles, she has taken the opportunity to improve her business and increase her income. The business she started just so that she could survive has now given her better living conditions and will continue to give her long-term benefits. She will invest her loan proceeds back into her grocery store and will definitely make her payments because of the improvements she has already experienced.

Doña Nohemí sells fruit and a variety of foods from different venues in her community. Doña Alba has operated a “fritanga” (selling fried foods) out of her home for the past 15 years. Doña María Medina also works from home selling fried foods as well.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El grupo El Doral es un grupo muy destacado en sus ciclos, por que se encuentran entre los llamados Cero Mora, que significa que nunca han tenido un retraso en sus cuotas e incluso han pagado o cancelado muchas veces por adelantado sus créditos.

Son cuatro mujeres emprendedoras que aun que de carácter muy humilde han sido muy entusiastas y astutas en sus negocios.

María Granados, la coordinadora del grupo, tiene 40 años de los cuales desde hace 8 años posee una pulpería en su hogar. Negocio que le ha permitido subsistir y mantenerse en los últimos años. No obstante con forme a avanzado en sus ciclos de crédito ha ido teniendo la oportunidad de mejorar su negocio y por consiguiente, mejorar sus ingresos. De tal manera que aquel negocio que primero solo le permitía subsistir hoy le permite tener mejores condiciones de vida que a largo plazo considera mejoraran más.

Sus créditos los sigue invirtiendo en su pulpería y no dejará de hacerlo por que para ella es beneficioso.

Doña Nohemí trabaja en la venta de frutas y comidas variadas que distribuye en diferentes locales de su comunidad; Doña Alba tiene una Fritanga (Venta de comida) en su casa de habitación desde hace 154 años; Y doña María Medina de igual manera posee una fritanga en su hogar.




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


About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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