Romel González Group

The “Aborigen” group from the San Francisco area of Nindiri is made up of people with few economic resources who need funding from Kiva's partner ADIM to help their businesses grow. They will use the money as working capital to buy wholesale merchandise at the Masaya municipal market. They will then sell the merchandise at retail prices from their homes, which allows them to work while taking care of their children and homes.

Maylorc sells Movistar and Claro brand prepaid cellular phone cards. His parents gave him a small amount of capital to start his business. Since he is a very hardworking and has been responsible with previous loans from ADIM, the Claro company gave him the opportunity to have a mobile phone at his home. He has now expanded his business to include the sale of prepaid cards.

Elisa works with her husband making pork tamales steamed in banana leaves and selling them at the Masaya market. Her dream is to have her own stand in the market, since she and her husband have experience selling fruit.

Translated from Spanish by Kris Vickery, Kiva Volunteer

G/s ABORIGEN de la comarca san francisco de la comunidad de Nindiri, compuesto por personas de bajos recursos económicos y que lo único que necesitan es un financiamiento de adim para hacer crecer sus negocios, ellos su créditos lo utilizan en capital de trabajo compran en el mercado municipal de Masaya por mayor y venden al detalle en su casa de habitación, quieren fortalecer sus negocios por que dicen que tenerlo en sus casas le permite cuidar de sus hijos y de su hogar.
Don Maylorc vende tarjetas de celulares de movistar y claro , el comenzó su negocio con un pequeño capital que le obsequiaron sus padres, por ser una persona bien trabajadoras y honesta con los prestamos de adim logro que la empresa claro le diera la oportunidad de tener un teléfono móvil en su casa y hoy presta este otro servicio. Doña Elisa tiene la oportunidad de contar con la ayuda de su esposo, los cuales entre los dos preparan los nacatamales y los comercializan en el mercado de Masaya. Su mayor sueño es de llegar a tener un negocio en el mercado municipal de Masaya, pues ellos tienen experiencia en la comercialización de frutas.



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


About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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