Jazmin Group

The Jazmín Group is comprised of Guiseela Carolina Correa Rodríguez, Elia Espinoza Sánchez and Guisel Indiana Campos Obando. They are from the San Judas de Managua neighborhood.

Guiseela Carolina Correa Rodríguez, 34, is the coordinator of the group. With help from her brother, she set up a small business of recharging and renting telephones. She wishes to also start selling cosmetics.

Another member of the group, Elia Espinoza Sánchez, sells fresh fruit and ice cream. Guisel Indiana Campos Obando, also a member, sells cosmetics, perfumes, and clothes.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

El Grupo Jazmín está conformado por Guiseela Carolina Correa Rodríguez, Elia Espinoza Sánchez y Guisel Indiana Campos Obando, ellas son del barrio san Judas de Managua.

Guiseela Carolina Correa Rodríguez de 34 años es la coordinadora del grupo. Ella con la ayuda de su hermano puso un pequeño negocio de recarga y alquiler de teléfono y desea también introducirse en la venta de cosméticos.

Las otras integrantes del grupo son Elia Espinoza Sánchez ella en su hogar vende frutas, helado, y fresco. Mientras Guisel Indiana Campos Obando comercializa cosméticos, perfumes y ropa.



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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