Maritza Cabrera

Mrs. Maritza Cabrera is 49 years old, is married with three children -- two young children and one who is studying at a university. Mrs. Maritza sells general merchandise, primarily clothing, toys and used shoes. 21 years ago when she started her business, she began with a small amount of capital and was saving little by little until she had enough clients. The loan will be invested in the purchase of blankets, sheets, quilts and mosquito nets during the upcoming season because she wants to take advantage of the low prices during this time. It is important to mention that the lady also works as a nurse in the hospital, and there she sells her merchandise to her fellow workers. Her goal is to have a variety store that can be maintained by members of her family.

Translated from Spanish by Zal Bilimoria, Kiva Volunteer

La señora Maritza Cabrera tiene 49 años de edad, es casada con tres hijos, dos menores y uno que está estudiando en la universidad. La señora Maritza se dedica a la venta de mercadería general, principalmente ropa, juguetes y zapatos usados. Hace más de 21 años que se dedica a este negocio, en ese tiempo empezó con un capital pequeño y fue ahorrando poco a poco hasta lograr tener suficiente clientela. El crédito será invertido en la compra de cobertores, sabanas, colchas y mosquiteros para la época que se acerca, ya que desea aprovechas los precios bajos de estas fechas. Es importante mencionar, que la señora además trabaja como enfermera en el hospital, y también allí ofrece sus mercancías a sus compañeros de trabajo. Su meta es llegar a tener una tienda variada que pueda ser atendida por los miembros de su familia




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

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