Grupo Santa Ana Group

In this Group:
Ma. Leticia Medina, Ma. Eugenia López Flores, Ma. Lorena Mercado Gaitán

The Santa Ana group has three members including Ma. Leticia Medina, Maria Eugenia Lopez Flores, and Maria Lorena Mercado Gaitan. They are natives of the Pacayita community in the city of Masaya. They are a group that started during an ADIM promotion that took place in the neighborhood. All of them are co-workers, friends, and neighbors.

Martha Lorena Mercado Gaitan sells bread and pastries in her house and also brings her items to the Roberto Huembes Market located in Managua. She sells her products every day and pays for her spot in the market. She buys the pastries from high quality bakeries in order to sell good products. With two years in this field of work, she has managed to accumulate some working capital, but not enough to buy all of the products she would like to offer her customers. For this reason, she would like a loan. She works with only the help of her teenage daughter because her sons are still very young. She is married and her husband helps her as well, but he does not help with the household bills which is why she started her business in the first place.

Translated from Spanish by Brittany Thatcher, Kiva Volunteer

Este es el grupo Santa Ana , de tres integrantes que son Doña Ma. Leticia Medina, Doña María Eugenia López Flores y Doña María Lorena Mercado Gaitán, ellas originarias de la comunidad de Pacayita que pertenece a la ciudad de Masaya. Son un grupo que inició en Adim por una promoción realizada en la zona. Todas mujeres trabajadoras, conocidas entre ellas y además vecinas.
Doña Martha Lorena Mercado Gaitán tiene una venta de Pan y repostería en su casa y lleva a vender al Mercado Roberto Huembes ubicado en Managua, vende todos los días pagando piso en el mercado. Ella compra la repostería en panaderías de calidad para poder vender productos de buena calidad. Con 2 años de dedicarse a esta actividad ha logrado tener un pequeño capital de trabajo, pero no le permite comprar todo el producto que le solicitan sus clientes, es por eso que necesita el crédito. Trabaja solo con la ayuda de una hija adolescente porque los demás hijos son pequeños, es casada, tiene la ayuda de su esposo, pero no da para los gastos y es lo que hizo que se decidiera a hacer esta actividad.



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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