Xiomara Del Pilar Mendoza Mayorga

Xionara del Pilar Mendoza Mayorga lives with her husband and they have 2 children in their charge. Xiomara makes a living running a general store. She has been in this business for the last 5 years, she started selling a few products such as candies, natural beverages and cookies. Her customers, however, were also requesting other products. This business has been very efficient for she can also perform the chores in her home. She wishes to grow her business and that her children become successful and hard working, as she is. The loan that she is requesting is for working capital, for the purchase of basic grains, dairy products, juices, chickens, sodas and products for the home.

Translated from Spanish by Laura Bobbit, Kiva Volunteer

Xiomara del Pilar Mendoza Mayorga vive con su esposo y tienen 2 hijos a su cargo. La actividad económica de Xiomara es una pulpería. Hace más de 5 años que se dedica a este negocio, ella comenzó vendiendo pocos productos como fue golosinas, refrescos naturales y galletas, pero sus clientes le pedían otro tipo de productos. Este negocio fue muy eficaz por lo que puede realizar las tareas del hogar. Ella desea ampliar su negocio y que sus hijos sean personas de provecho y muy trabajadores como ella. El financiamiento que solicita es para capital de trabajo para la compra de granos básicos, lácteos, jugos, pollo, gaseosas y productos del 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

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