Mary Luz Group

Las integrantes del grupo Mary Luz son Mary Luz Urtecho, María Auxiliadora Mendes Mayorga y Tania María Vilchez Chico. Ellas viven en barrio Loma linda de Managua.

Mary Luz Urtecho de 56 años es la coordinadora del grupo. Ella tiene un pequeño negocio de venta de videos y mp3, impresiones, fotocopias, levantado de texto y video juegos. Ella invertirá el crédito en la adquisición de nuevos equipos y video juegos.

Las otras integrantes del grupo son María Auxiliadora Mendez Mayorga de 43 años ella tiene una pulpería y Tania María Vílchez Chico de 25 años tiene un taller de costura.



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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