Julia Justina Ponce

Mrs Julia Ponce is a 51 year old woman living in barrio 380 in Managua. She is divorced, with a 19 year old daughter and a 7 year old son. The children's father provides support for them. She has a small store in a room in her home, which she began 7 years ago by selling ice and ice cream. She used her last loan to improve her home, and she will use this loan to improve her business. With the money that she is requesting she plans to purchase basic grains and cleaning products to stock her business and to meet the needs of her customers in the neighborhood. This is a very poor neighborhood, and people purchase their daily needs in the small stores. For this reason,Juila must keep her store stocked with products so that her customers do not lose faith in her.

Translated from Spanish by James Comstock, Kiva volunteer.

Doña Julia Ponce tiene 51 años de edad, habita en el barrio 3-80 de Managua, es divorciada, tiene una hija de 19 años de edad y un niño de 7 años de edad, el papá le apoya en la manutención de sus dos hijos. Tiene una pulpería en su casa de habitación, la cual desde hace 7 años ha venido administrando, la cual empezó con ventas de hielo y helados. El crédito anterior fue usado para mejoras de su hogar pero éste será usado en la mejora de su negocio, con el dinero solicitado comprará granos básicos y productos de limpieza para abastecer su negocio y satisfacer las demandas de sus vecinos del barrio. Este barrio es un barrio pobre, la manera de vivir de la gente es comprar en las pulperías las necesidades del día, es por eso que Julia necesita tener su pulpería llena de sus productos para así no quedar mal a sus clientes.


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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