Esperanza Del Socorro Somarriba Carmona

Esperanza del Socorro Somarriba is a 54-year-old woman who lives with her husband. She has 4 children who all work. She has been selling plastic goods for a living for 4 years. She launched this business because she noticed that many customers were looking for a way to obtain these products. Since she liked the idea of providing her customers with the products, she decided to move forward. Her goal is to improve the quality of her products so that her customers can be satisfied. This loan will be used as working capital to invest in purchasing plastic bags, cups, teacups, and all sorts of other plastic goods.

Translated from Spanish by Elizabeth Casian, Kiva Volunteer

Esperanza del Socorro Somarriba tiene la edad de 54 años, vive con su esposo. Doña Esperanza tiene 4 hijos y todos trabajan. La actividad económica de Esperanza es la venta de productos plásticos. Hace más de 4 años que se dedica a este negocio. Inicio por que observo que muchos clientes buscaban la manera de obtener sus productos como le agrado la idea de facilitarles a sus clientes estos productos decidió seguir adelante. Sus propósitos de son de mejorar la calidad de sus productos para que sus clientes se encuentren satisfechos con sus productos. El financiamiento es para capital compra para la inversión de su negocio para la compra de bolsas plásticas, vasos plásticos, tasas y todos los productos plásticos.


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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