Las Estrellita Group

Lorena Gutiérrez, Sobeyda Herrera, Ruth Centeno, and Geraldine Cano are the members in the Estrella group. They live in the San Judas de Managua neighborhood.

Lorena del Carmen Gutiérrez Lara is the coordinator of the group. A year and a half ago she decided to sell cooked beans. She recently introduced fish because she needed more economic solvency to be able to support her family. Gutiérrez wishes to see her business grow. To do so, she will use the loan to buy beans and fish.

The other members of the group are: Sobeyda Herrera Centeno who sells fruit and vegetables like yucca, squash, vegetable pears, oranges, and lemons, etc; Ruth Aracely Centeno Cano has a small mini market; and Geraldine del Socorro Cano Andino sells “choco banana” (frozen banana covered in chocolate, ice cream; and on the week ends she sells beef, fish, cheese, chicken, and “hueso” (hearty soup with meat bones) soup.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

El grupo Estrella está integrado por Lorena Gutiérrez, Sobeyda Herrera, Ruth Centeno y Geraldine Cano, ellas habitan en el barrio san Judas de Managua.

Lorena del Carmen Gutiérrez Lara es la coordinadora del grupo, ella desde hace año y medio decidió vender frijoles cocidos y actualmente introdujo pescado, ya que necesitaba más solvencia económica para poder mantener a su familia. Gutiérrez desea ver crecer su negocio, para ello invertirá su crédito en los frijoles y el pescado.

Las otras integrantes del grupo son Sobeyda Herrera Centeno que vende frutas y verduras como yuca, pipian, chayote, naranja, limón… etc. Mientras Ruth Aracely Centeno Cano tiene una pequeña pulpería y Geraldine del Socorro Cano Andino vende en su casa choco banano, helados y los fines de semana sopa de res, pescado, queso, pollo, de hueso….etc.



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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