Margarita Jiron

Margarita Jirón is 79-years-old. For a long time she has earned her living butchering pigs, so she's always looked for ways make ends meet. Unfortunately, she managed to complete only a primary school education. This did not stop her from getting ahead now, though. Because her family had always been in this business, she made the decision to start her own business in her modest home. She is seeking a loan for working capital to buy pigs. Her greatest aspiration to to keep up her business because at her age it's very hard to keep working.

Translated from Spanish by Jill Heske, Kiva Volunteer

Margarita Jirón tiene 79 años. Ella se ha dedicado durante mucho tiempo al destace de cerdo, por lo que siempre ha buscado la forma de cómo ganarse el pan de cada día, desafortunadamente Margarita solo logro finalizar sus estudios de primaria. Actualmente esto no fue impedimento para salir adelante, por medio de su familia que siempre se han dedicado a esta actividad fue que ella decide por cuenta propia establecer su propio negocio, en su humilde vivienda. El financiamiento que solicita es para capital de trabajo para la compra de cerdos. Su mayor aspiración es mantener este negocio porque ya a su edad es muy difícil segur trabajando.


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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