Set Net Point Group

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In this Group:
Celia Escobar Thomas, Ana Julieta Nash Willis, Francela Thomas Lopez., Mourine Alba Allen Thomas, Elsie Marie Amacio Francis, Leonicia Jonathan Thomas, Betty Margarita Hodgson., Ana Hodgson Duncan., Linda Rachell Hodgson Wilson., Kardell Thomas Lopez, Cristola Marsa Hills Wilson.

Sra. Linda Rachell Hodgson Wilson is responsible for 11 people in the community of Set Net Point who have joined together to receive electricity for their homes because this service is not provided in the area. The community of Set Net Point is located north of the city of Bluefields and is 3 hours away by motorboat. This area historically has not had access to electricity service. ADEPHCA has partnered with Blue Energy to seek funding through Kiva to purchase the following electrical materials:

• blades with 2 fuses that costs $12 USD each
• charge controllers that costs $35 USD each
• 11 Watt lamps that costs $10 USD each
• light bulb clamps that cost $1 USD each
• light switches that cost $1 USD each
• #14 electrical wiring that costs $51 USD for 11 beneficiaries

It is hoped that this funding will allow these families to take advantage of electricity service so that they can improve their standard of living and perform their household chores at night. Sr. Kardell Thomas López does not appear in the photo because he was away at his job as a fisherman.

It is worth mentioning that Kiva funding was used to finance another group in the community of Monkey Point. They are already repaying their loans and now have electricity.

Click HERE to view the group loan for the Monkey Point community.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

La señora Linda Rachell Hodgson Wilson es la responsable de 11 personas de la comunidad de Set net Point las cuales están siendo beneficiadas con materiales eléctricos para poder tener luz eléctrica en sus viviendas, ya que en esta comunidad, no existe este servicio. La comunidad de Set Net Point esta ubicada al norte de la ciudad de Bluefields a unas tres horas en panga con motor fuera de borda vía marítima e históricamente no han tenido acceso a este servicio, Por tal razón ADEPHCA-KIVA y Blue Energy están buscando financiamiento a través de los créditos de Kiva materiales eléctricos que consisten en lo siguiente:
Una cuchilla con 2 fusibles que cuesta US 12 cada una, un controlador de carga focos cuesta US 35 cada una, una lámpara de 11 Wats cuesta US 10 cada una , un cepo de bujía cuesta US1 cada uno, un interruptor cuesta US1 cada uno y alambre eléctrico numero 14 que cuesta US 51 dólar por los 11 beneficiarios.
Se espera con este financiamiento que les permita a los beneficiarios poder aprovechar la luz eléctrica para mejorar su nivel de vida y aprovechar parte de la noche en sus quehaceres diarios, En la foto no aparece el señor Kardell Thomas López ya que se encontraba realizando faenas de pesca.
Cabe mencionar que se acaba de financiar por parte de Kiva a otro grupo de la comunidad de Monkey Point, los cuales ya están en repago sus créditos y ya cuentan con luz eléctrica.



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.


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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