The Fruit Group

The Fruit Group consists of Rosibel Hernández (age 46), María del Carmen Vargas (age 49), and Jojana Vanesa Alemán (age 29). Sra. Rosibel opened a modest fruit stand in 1994 near her home. She now has a small grocery store that is stocked with basic necessities. She dreams of converting it into a convenience store.

At the same time, Sra. María started providing milling services and also sells grain and household products. Jojana has been selling used clothing for 5 years.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El grupo el Fruto está integrado por Rosibel Hernández de 46 años, María del Carmen Vargas de 49 años y Jojana Vanesa Alemán de 29. La señora Hernández desde 1994 empezó con un modesto puesto de fruta en la acera de su casa actualmente tiene una pulpería surtida con lo necesario y con la que sueña que se convierta en una misceláneas.

Al mismo tiempo la señora Vargas inicio con su molino al que con el tiempo introdujo una pequeña venta de granos básicos y productos para el hogar. Mientras Jojana tiene 5 años de vender ropa usada.



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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