El Pozo Group

This group calls the village of Niquinohomo, part of the city of Masaya, home. These three women all work in the same business: clothing and spice sales. They sell in the northern region of the country, in cities including Matagalpa, Estela and Somoto. They have known each other for many years and have a great deal of confidence in each other.

Yahaira is the coordinator of the group. She is the mother of a young son. She comments that she needs a loan in order to buy items that she does not currently offer. She learned about Adim, a local organization, from a woman at the local market who works with the organization. She visited the office, gathered the information and formed her group, so they could all meet with Adim.

Yahaira has been working in this business for years. She learned the business from her mother. She hopes to get ahead with this loan together with her partners in the group; she hopes to be able to give her son a college education.

She travels 3 days of the week outside of her community, and one day of the week she goes to Managua to buy the clothing and spices. The other days she spends taking caring of her family and going to Adim to make the group's loan payment. She is very organized about her time and her business.

Her husband helps pay the household expenses with his work on a farm. Yahaira plans to make improvements to their home. Yahaira has received several training courses; they have helped her to better manage her business.

Translated from Spanish by Erin Corcoran, Kiva Volunteer

Este grupo tiene su domicilio en pueblo de Niquinohomo perteneciente a la ciudad de Masaya, estas tres mujeres tienen la misma actividad de ventas de Ropas y especies, venden en la zona norte del país en ciudades como Matagalpa, Estela y Somoto. Se conocen desde hace muchos años y tienen una gran confianza una en la otra.

Doña Yahaira es la coordinadora del grupo solidario, madre de un niño, expresa que tenía necesidad de un crédito para comprar algunos artículos que no ofrecía, se informó en el mercado con una señora que trabaja con Adim, que es de la comarca y visitó la oficina, obtuvo la información y conformó su grupo para recibir la charla.
Tiene muchos años de dedicarse a esta actividad que la aprendió de su mamá, espera salir bien en su crédito junto a sus compañeras y poder darle a su hijo estudios superiores.
Ella viaja por tres días a la semana fuera de su comunidad y un día va a Managua a comprar la ropa y especies, los otros días los dedica a su familia y a ir a dejar la cuota, ella es bien organizada con su tiempo y su negocio.
Su esposo le colabora con los gastos de su trabajo en la finca, piensa que van a mejorar las condiciones de su casa.
Doña Yhajaira ha recibido varias capacitaciones y le ha servido para llevar un mejor control en su negocio.



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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