Norma Justina Amador Montalvan.

Senora Norma Amador is 70 years old, and is originally from Bluefields. She is a widow, and although she has 7 children, she only lives with two of them ,and some grandchildren. She has run her shop for 28 years, where seh sells basic goods, soda, beef, chicken, goat and other products. One of the advantages of having this business is that it is located in an area ov about three and a half acres where there are only two shops, therefore there are many customers. Like many similar shops, Dona Norma sells to her customers on credit, but only to those that are good payers, since in the past some were slow with the business. In order to improve her small business, she needs more products, and for this reason requires financing in order to purchase: 4 quintal (about 400 kilos) of rice at US$42 per quintal, 2 quintals of sugar at US$26 per quintal, 1 quintal of beans at US$80 per quintal, 2 bags of bath tissue at US$10 per bag, 2 cans of oil at US$27 each, 2 cases of soda at US$19 each, 3 cases of 3 minute soup at US$25 each, 2 cases of Maggie soup at US$7 each, and 3 cases of sardines at US$19 per case


Translated from Spanish by Elizabeth Novesky, Kiva translator

La señora Norma Amador tiene 70 años de edad, es originaria de Bluefields, es viuda y aunque tiene 7 hijos solamente vive con dos de ellos y unos nietos.Desde hace 28 años administra una pulperia en donde vende granos basicos, gaseosas, carne de res, pollo, chiverias y otros productos. Una de las ventajas que tiene este negocio es que en ese sector solamente existen dos pulperias las cuales cubren un radio de dos manzanas, lo que hace que tengan bastantes clientes. Al igual que muchas pulperias doña Norma le da credito a sus clientes, pero solamente a los buenos pagadores ya que en el pasado muchos quedaron morosos con el negocio. Para superarse en este pequeño negocio necesita mas productos y para tal fin requiere de un financiamientos para comprar: 4 quintales de arroz a US$ 42 dolares cada quintal, 2 quintales de azucar a US$ 26 dolares el quintal, 1 quintal de frijolesa US$ 80 dolares el quintal, 2 bolsones de belvet (papel higienico) a US$ 10 dolares cada bolson, 2 bidones de aceite a US$ 27 dolares cada bidon, 3 cajas de sopa 3 minutos a US$ 25 dolares cada caja, 2 cajas de sopa maggie US$ 7 dolares cada caja, 2 cajas de gaseosas a US$ 19 dolares cada caja, y 3 docenas de sardinasa US$ 19 dolares cada caja.


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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