María De La Cruz Calero Pavón

Mrs. María de la Cruz Calero is a young woman of 24 years and the mother of two small children. She started her business because she saw the need to have better income for her household. Her husband helps with the household expenses but sometimes it is not enough. Therefore, she decided to open a small grocery store and have her own income. She started small, but to increase her customer base she required more products and asked for a loan to satisfy her customers. She observed that her sales went up and resulted in more profit.

She has the goal of increasing her customers in order to increase her sales, and to achieve this by investing in the grocery store and applying the business controls that are taught by Adim. She is very sure she will achieve her goal if she has a good credit record and obtains greater loans to increase her inventory and improve her location.

Translated from Spanish by William Gray, Kiva Volunteer

La señora María de la Cruz Calero es una joven mujer de 24 años madre de 2 niños pequeños, inició su negocio porque vio la necesidad de tener más ingresos para el hogar, su esposo le ayuda con los gastos pero a veces no alcanzaba, al ver esto decidió poner una pequeña pulpería y tener su propio ingreso.
Inició con un pequeño ahorro pero al ir creciendo la clientela le solicitaban más productos y se dispuso a solicitar un crédito para satisfacer a los clientes y observó que sus ventas se incrementaron y le quedó más ganancias.
Tiene como meta incrementar en clientes para crecer en sus ventas , esto lo conseguirá invirtiendo en la pulpería y aplicando los controles que le han enseñado en Adim, está muy segura de lograrlo si tiene un buen record crediticio y obtener préstamos mayores para incrementar inventario y mejorar el local.



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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