Nubes Blanca Group

The Group “Nubes Blancas” (White Clouds) consists of Karla Vanessa Parrales Gutiérrez, Erick Iván Salina Ramírez, and Nidia Lizath López Gutiérrez. They are from the region of San Francisco de Nindiri.

Karla Vanessa Parrales Gutiérrez is the group coordinator. She started selling clothes three years ago and she now sells them wholesale. The other members, Erick Iván Salina Ramírez and Nidia Lizath López Gutiérrez, also sell clothing.

They need a loan to acquire new merchandise, since the clothing business requires that they keep up with the latest fashion trends. Among the items they plan to purchase are blouses, pants, jackets, and skirts that are in season and can be worn for promotions, first communions, and other events.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El grupo Nubes Blancas está conformado por Karla Vanessa Parrales Gutiérrez, Erick Iván Salina Ramírez y Nidia Lizath López Gutiérrez. Ellos son de la comarca San Francisco de Nindiri.

La coordinadora del grupo es Karla Vanessa Parrales Gutiérrez, ella desde hace tres años empezó con la venta de ropa y actualmente compra por mayor. Los otros integrantes son Erick Iván Salina Ramírez y Nidia Lizath López Gutiérrez los cuales tambien vende ropa.

Ellos necesitan el crédito para poder adquirir nueva mercadería, ya que en el negocio de la ropa se tiene que estar con las últimas tendencias de moda en blusa, pantalones, chores, faldas especialmente en esta temporada donde las actividades son más productivas por las promociones, primera comuniones, entre otros.



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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