Martha De Los Santos Cerna Torrez

Martha de los Santos, 30, has learned how to struggle to maintain her business. She has run a small grocery store, located in her home becuse she has a small child in her care, for the past 7 years. Little by little Martha has seen her business grow despite the difficulties presented by limited space to display her wares in her home. The loan she is seeking is to buy inventory items like basic grains, snacks, natural beverages, detergens and bread. Her wish is to increase her working capital so that she can earn better profits.

Translated from Spanish by Michael Bujazan, Kiva Volunteer

Martha de los Santos tiene 30 años, a esta edad ella ha aprendido a luchar a mantener activo su negocio. Su actividad económica es una pulpería, hace más de 7 años que se dedica a este negocio y está ubicado en su vivienda por lo que tenía 1 hijo a su cargo. Poco a poco Martha ha ido creciendo con su negocio, a pesar de las dificultades como brindar el espacio suficiente para colocar sus productos en su vivienda. El financiamiento que solicita es para capital de trabajo para la compra de granos básicos, golosinas, refrescos naturales, detergentes y pan. Su deseo es incrementar su capital de trabajo para mejorar sus ganancias.


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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