Helen Ruth Chamorro Tellez

Doña Helen is a 41-year-old single woman living in her own home 4-1/2 blocks from the municipal theater. She has two children, a married son and a daughter living with her who is in her third year of secondary school. Doña Helen has worked with Fundacion Leon 2000 for 10 years, during which time she has invested in her business and acquired housing where she also has her small business. She has gradually been improving her beauty salon in order to provide suitable service to her clientele.

Her business was started because she needed to be self-employed. Since she had completed a beauty course and did not have other employment, she decided to open her own beauty salon herself with the help of Fundacion Leon. Her big dream is to be able to air-condition and expand her salon, in order to support her children's professional development.

Translated from Spanish by Susan Sanford, Kiva volunteer

Doña Helen tiene 41 años de edad es soltera, vive del teatro municipal 4 cuadras y media al sur
vive en casa propia, tiene dos hijos uno ya esta casado y la otra es una niña vive con ella es menor de edad cursa el tercer año de secundaria , Doña Helen tiene de trabajar con fundacion leon 2000 10 años tiempo durante el cual ha sabido invertir en su negocio y adquirir una vivienda siendo esta donde actualmente tiene su pequeño negocio. En su pequeño salon de belleza ha venido poco a poco mejorandolo de esta manera ofrecer un servicio adecuado a su
clientela negocio dio origen como una necesidad de crear su propio autoempleo, ya que ella
habia adquirido un curso de belleza y no tenia otro empleo decidio poner su propio salon de belleza con esfuerzo propio y apoyo de nuestra isntitución, su mayor sueño es poder acondicionar y ampliar mas su salon de belleza, así como poder apoyar a sus hijos a que se desarrollen profesionalmente.

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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