Laura Mercedes Nuñez Sanchez

Laura Mercedes Nuñez Sánchez is 48 years old. She is a lady with a very enterprising spirit. She lives in her own house with her children. Her work begins very early every day and she has been in this business for the last 4 years. This is not the first time that she is looking for a loan to get ahead in her business. Through the work that she puts in day to day she has been able to get her children ahead and offer them the opportunity to study. She started with very few products such as clothing and cosmetics which she initially only sold to friends and family, as time went on she obtained more customers. She is now turning to Fundación León 2000 for a loan that will be used for working capital, obtaining general merchandise.

Translated from Spanish by Laura Bobbit, Kiva Volunteer

Laura Mercedes Nuñez Sánchez tiene la edad de 48 años. Es una señora con un gran espíritu emprendedor. Vive en su propia casa con sus hijos. Todos los días su trabajo comienza desde muy temprano ya que desde hace 4 años que se dedica a esta actividad por lo que no es la primera vez que ha realizado financiamientos para salir adelante con su negocio, ya que es por medio de los esfuerzos que hace día a día pude sacar a sus hijos adelante y brindarles las oportunidad de estudio. Ella comenzó con muy pocos productos como ropa y cosméticos por lo que inicialmente solo le ofrecía a sus familiares y amistades y por medio del tiempo fue que logro obtener más clientes. Ahora ella recurre a Fundación León 2000 para facilitarle un financiamiento que será utilizado para capital de trabajo para mercadería en general.


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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