Las Vecinas Group

The solidarity group Las Vecinas [The Neighbors] are composed of 4 good friends that have known each other for over 10 years. They are neighbors that live in the front region of the Tisma municipality.

Blanca Rosa Aguirre is the group coordinator, she is 38 years old, and she is the first shown on the left in the photo. She sells clothing and cosmetics in the Free Trade Zone Tipitapa and in her own house where she has a small shop that still does not have the appropriate conditions in which to run her business.

She would like this loan to invest in what her clients demand; her goal is to expand her shop and improve its conditions, given that through this business she hopes to improve the lives of her children.

Margarita is another group member and she works raising pigs and in the sale of cosmetics. Maritza Ortega has a business in the purchase and sale of fruits and vegetables, and Martha Torres works in the sale of clothing and cosmetics.

Translated from Spanish by Mariela Cedeno, Kiva Volunteer

El grupo solidario las Vecinas está formado por 4 amigas de confianza, que se conocen desde hace más de 10 años. Vecinas de su comarca ubicada adelante del municipio de Tisma.

Blanca Rosa Aguirre es la coordinadora del grupo, tiene treinta y ocho años de edad y es la primera ubicada en la parte derecha de la foto. Trabaja en la venta de ropa y cosméticos tanto en la Zona Franca de Tipitapa como en su casa, donde tiene una pequeña tienda, pero que todavía no cuenta con las condiciones pertinentes.

Su crédito lo quiere para invertir en las demandas de sus clientes y su meta es lograr agrandar su tienda y establecer mejores condiciones para ésta, ya que atravez de esto quiere sacar adelante a sus hijos.

Margarita es otra integrante del grupo y trabaja en la crianza de cerdos y en la venta de cosméticos. Maritza Ortega trabaja en la compra y venta de frutas y verduras y Martha Torres trabaja en la venta de ropa y cosmenticos.



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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