A Long and Challenging Road

When Xiomara de Jesús started down the road to her business many years ago she had no choice but to set up shop on the street. She was a single mother who had to make ends meet in order to take care of her daughter. She began selling housewares on the sidewalk.  Today her store is a testimony to her hard work and perseverance. And while she is still the sole proprietress of her store, Xiomara has a new partner that is helping her walk tall these days.

For a year now Xiomara has been a microcredit client with MiCrédito, a MEDA-owned microfinance organisation in Nicaragua. By working with MiCrédito, Xiomara has been able to secure small loans to help her build up her stock and increase her sales. This small step has been such a help for her that it has made a world of difference.

It’s hard to believe that world of difference between what Xiomara has today and the old street -stall that her store started as. Many businesses in the area are still in make-shift stalls or less. Her store, by contrast, now has walls and a roof. It opens on to one of the main streets in downtown Leon, a cultural and historical hub in Nicaragua with strong tourism. Her shop is also part of a new market, with fresh, open courtyards and colourful design.

Inside her little store, the shelves are packed full of house wares, appliances and fans - a vital commodity in the hot, dry western costal region. She also has a large stock of personal accessories. Watches and sunglasses fly off the shelves more quickly than any other product. She is also able to employ a young girl from the town, easing her load and creating a job opportunity within the community.

Xiomara has proven her worth as a microcredit client. Not only does she have a regular loan, but this year she also secured a seasonal loan and the good opinion of her branch manager. Seasonal loans are given out during critical sales periods such as Christmas or Holy Week. During these times, customary gifts and vacation periods afford more shopping. This increases Xiomara’s sales by a large amount if she has the stock to support it. This year, she was able to get a three month seasonal loan. This enabled her to go above and beyond what normal sales would be available to her.

Despite all her difficulties, both in the business and at home, Xiomara has come a long way. From selling wares on the street to owning a profitable and busy store, her business is certainly taking off. What’s more, Xiomara isn’t stopping there. She is in the process of getting ownership of her space so that she does not have to rent from the City of Leon. It’s one more step in her journey, one that Xiomara is taking in good company with MiCrédito.

Big Dreams for the Future

Fatima is young but has big dreams for the future! The belt-making business she took over from her father is growing thanks to loans from MiCrédito.

She heard about MiCrédito from her brother and soon found out they offered better interest rates than the institution she was with. Fatima's most recent loan was for US $10,000 and she used the money to buy better equipment. As a result, her business has grown and she has taken on more employees.

But Fatima would like more. She hopes to build up a brand name for her product and eventually access international markets. Currently, there is strong competition with China, which exports factory-made belts. Fatima believes her hand-crafted belts have a competitive edge – excellent quality. The future looks bright for Fatima. She has the confidence, the work ethic and now – the loans to help her business grow.