Melia Teresa Altamirano Martinez

Señora Meliá Teresa is 39 years old, and is the mother of four children aged 2,8,10 and 12, who are studying to obtain a better education. In the neighborhood where they live there is a lot of delinquency and robberies occur even in the light of day; this is because many fathers do not help their children or model a better life for them. Her business is the sale of tortillas, nactatamales, and cooked beans, which she sells at very low prices. She sells cooked beans for 5 córdobas, and tortillas for 1 córdoba; this is food that is typical of Nicaragua. She has been selling food for 7 years, but because of a lack of capital she has not increased her income or production. Her husband is a bricklayer who works by contract in different neighborhoods in the capital. With his earnings he has been buying stone, cement, and steel and has been building their house. This has been easy for him as this is his trade, and it has also enabled them to save a lot of money. The house that they live in is encased only with zinc, and is very insecure, but they are hoping to soon encase it with concrete, and this is already underway. With this financing they will be able to buy more rock and cement in order to finish it. This is their greatest wish, since a lot of water gets into their house now because the zinc is very old. They are thankful to the institution for the opportunity to finish their house, and to realize their dream of having a decent house for their family.

Translated from Spanish by Lisa Grobar, Kiva Volunteer

La señora Meliá Teresa de 39 años de edad, procreo cuatro hijos de 2, 8,10 y 12 años de edad, los cuales los tiene estudiando para una mejor educación ya que en el barrio que habita hay mucha delincuencia, que roban a la luz del día. Lo cual se da por padre que no ayudan a sus hijos para que modelen una vida mejor. Su negocio es la venta de tortilla, nacatamales, frijoles cosidos el cual se vende por su precio que es accesible vende frijoles por cinco córdobas las tortillas a un córdobas, que es el alimento Nicaragüense lleva siete años en las ventas y por falta de capital no ha aumentado sus ingresos en la producción de inventario. Su esposo es albañil trabaja por contratos en los diferentes barios de la capital, con los ingresos de el ha ido comprando piedra, cemento, hierro, y ha ido construyendo su casa ya que le resulta fácil por que el mismo la hace el cual se ahorran mucho dinero. La casa que habitan es sencilla forrada de zinc y muy insegura pero con la esperanza que pronto cerraran su casa hecha de concreto que ya esta avanzada y con este financiamiento lograran comprar mas piedra y cemento para terminarla que es lo que mas desea ya que en la casa que esta se le pasa mucho agua por que el zinc esta muy viejo. Da las gracias a la institución por la oportunidad de poder terminar de hacer su casa y poder ver realizado su sueño de tener una casa digna para su familia.


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 Housing Loans
Many poor families are financially unable to purchase a house that meets their needs. Housing loans funded on Kiva give families access to capital to improve their homes and an opportunity to pay loans back at a pace that they can handle. The housing and small business loans featured on Kiva share a common purpose: they alleviate conditions of poverty and enable families to lead more stable lives. Learn more

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