Nora Carolina Gonzales Hernandez

Months later, upon realizing that she needed to invest in her business, she sought the help of Ceprodel, which provided her with 6 loans that have helped her improve her economic status. These loans have helped her both increase her fast food sales and purchase greater quantities of CD’s to sell.

Translated from Spanish by Elizabeth Casian, Kiva Volunteer.

Nora Carolina Gonzáles es una dama esforzada que se dedica al negocio de venta de comida (hot dog y pollo con papas) y al mismo tiempo venta de discos compactos. Su negocio inició hace 5 años en la ciudad de Chinandega con un carretón que le servía para trabajos ambulantes en las calles de esta ciudad.

Al pasar los meses y darse cuenta de que necesitaba invertir en su negocio, recurrió a Ceprodel por el cual le benefició ya que obtuvo 6 créditos que hoy en día le han ayudado a superar su situación económica aumentando sus ventas de comida y adquiriendo mayores cantidades de discos compactos para comercializarlos.


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.