Ruiseñor Group

María Iliana Solórzano Altamirano started making popsicles two years and eight months ago with the help of her daughter-in-law. Then she got a freezer and started to sell different types of Eskimo products.

Eskimo is a Nicaraguan company that makes diverse dairy products like ice cream, sorbet, milk, and its derivatives. It is the largest ice cream company, which was founded in 1942, and it is has a presence in the whole country.

Solórzano will use the loan to get a greater variety of products. In the future she wishes to convert her business into a complete sorbet shop. She wants to have a place with tables and cups among other things.

Martha Lorena Palacio sells tortillas, cooked beans, and “nacatamales” (a traditional Central American dish similar to a tamale), which the Nicaraguans eat daily. Her goal is to sell breakfasts and lunches.

Xochi Raquel Madriz Rivera has a mini-market and a “fritanga” stand. A “fritanga” is restaurant that is popular in Nicaragua for its excellence. It consists of selling fried foods that are prepared soley to be put on the grill. Generally, you buy them for dinner. They can be made of roasted meat, fried chicken, cheese slices, roasted chicken, enchiladas, and pork with yucca…etc.

Translated from Spanish by Ginny Kalish, Kiva Volunteer

María Iliana Solórzano Altamirano hace dos años y ocho meses que comenzó haciendo paletas con la ayuda de su nuera. Luego consiguió un frízer y empezó a comercializar los productos Eskimo en diferentes presentaciones.

Eskimo un empresa nicaragüense que elabora productos lácteos diversos, tales como helados, sorbetes, leche y sus derivados. Es la mayor compañía heladera fundada en 1942 y que tiene presencia en todo el país.

Solórzano invertirá el crédito para adquirir más variedad de productos y en un futuro desea que sea convertir su negocio en una sorveteria completa, contar con un local, mesas y tazas entre otros.

Martha Lorena Palacio vende tortillas, frijoles cosidos y nacatamales estos son de consumo diario para los nicaragüenses y su meta es llegar a vender desayunos y almuerzos.

Xochi Raquel Madriz Rivera tiene pulpería y fritanga. La fritanga es un restaurante popular por excelencia en Nicaragua. Este consiste en la venta de alimentos fritos, que están preparados solo para poner en la parrilla, por lo generar se compra para la cena. Estos suelen ser carne asada, pollo frito, tajadas con queso, pollo asado, enchiladas, chancho con yuca……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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