Juana Yamileth Toruño Espinoza

Mrs. Toruño has worked with Kiva partner Fundación Leon for the past nine years and has received 19 loans. She runs a general store located in her city's central market. She currently shares the site with her mother, but her dream is to be able to have her own store. She is married with two children, one in preschool. Her husband is a merchant and together they form a united pair that has been able to make headway thanks to hard work and persistence.
Translated from Spanish by Marty Greenstein, Kiva Volunteer

La señora Toruño trabaja con nuestra institución desde hace unos nueve años donde ha recibido diecinueve creditos, ella tiene su negocio ubicado en el mercado central de la ciudad, actualmente comparte un local con su mamá, pero su sueño es llegar a tener su propia tienda, es casada con dos niños, uno en educación pre-escolar y otro tierno su esposo trabaja como comerciante y son una pareja muy unido que han logrado salir adelante con el esfuerzo y empeño de ambos.


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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