Antonia Del Carmen Ortiz Benavidez

Antonia del Carmen Ortiz Benavidez is 54 years old and has four children. She sells footwear to make a living. She’s been doing this for more than 10 years, and she initially started this business to provide an alternative source of income for her family. She overcame difficulties to be able to have this business, such as the low inflow of customers that she had, but this did not discourage her and each day she continued forward. She asked for this loan so she can purchase sandals, shoes, and other products. Antonia’s dream is to have her own establishment with good inventory for her business.

Translated from Spanish by Kelley Maynard, Kiva Volunteer

Antonia del Carmen Ortiz Benavidez tiene la edad 54 años, ella tiene 4 hijos a su cargo. Su actividad económica es la venta de calzado. Hace más de 10 años que se dedica a este negocio, por lo que fue un inicio como una alternativa de fuente de ingresos para su familia. Por lo que atravesó dificultades para lograr tener este negocio, como fue la poca afluencia de clientes que ella poseía pero esto no la desanimo y cada dial icho por seguir adelante. Por lo que solicita este financiamiento para capital que será destinado para la compra de sandalias, zapatos, entre otros productos. El sueño de Antonia es tener su propio establecimiento con un buen inventario para su negocio.


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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