Georgina Del Socorro Mendiola Meneses

Mrs. Georgina del Socorro Mendiola Meneses is the owner of a small grocery store located in the La Flores district, Masaya department. She is known in her community for her establishment, she is the mother of a young son who helps in the shop, her husband is a farmer of their own land. She decided to establish her business several years ago in order to have her own income and to be able to buy what she would like. Her dream is to improve the business until it is a medium-sized enterprise and to be able to provide a college education to her child.

Translated from Spanish by Erin Hopkins, Kiva Volunteer

Doña Georgina del Socorro Mendiola Meneses es propietaria de una pulpería ubicada en la Comarca Las Flores, del departamento de Masaya, es conocida en su comunidad por su establecimiento, es madre de un hijo joven que le ayuda en la pulpería, su esposo es agricultor en tierras propias. Decidió instalar su negocio hace varios años para tener ingresos propios y comprarse lo que le gusta, sus sueños es mejorar su negocio hasta que sea una mediana empresa y poder brindar estudios universitarios a su hijo.





Important Information About This Loan
Kiva recently posted a message regarding the “No Pago” movement in Nicaragua (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 had submitted a law to the government to create a moratorium on debt repayment. Initially it was unclear whether this law would pass, which would have had severe effects on the banking and microfinance industry in Nicaragua. However in the last month the executive branch rejected the law in its current form. The No Pago movement still exists but seems to have lost some steam. There is still a possibility that a law encouraging more restructuring of loans could pass next year, and microfinance institutions are voluntarily restructuring loans to delinquent borrowers, still increasing risk of lending in Nicaragua. However indications are that the situation is less dramatic than before.

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