Borrower Profile: Esmeralda Espinoza

Esmeralda Espinoza, shucking corn to go in her nacatamales. Photo by Michael Kienitz.

As the sun rises over Managua, Esmeralda Espinoza stokes the coals of her brick oven and begins preparing the ingredients that will go into over 200 nacatamales. After each nacatamal is hand-rolled in plantain leaves, Esmeralda and five other women from her neighborhood travel to the industrial neighborhoods to sell their goods during the lunch rush.

Esmeralda started her small business ten years ago with a $300 loan from FAMA, a partner agency of Working Capital for Community Needs. Since then, she has received 15 additional loans that have allowed her to expand her business and hire five employees from her community. She has even taken her nacatamal business international, shipping a little piece of Nicaragua to loyal customers in the United States and Canada.

Recently, Esmeralda got three more loans to open a small general store in the front of her home. She received these loans as part of solidarity group, together with two other women in her community. Each member assumes equal responsibility for repaying the loan. “If I can’t pay this month, the other women will help me make my payment on time,” she says.

The business has provided much-needed economic stability to Esmeralda’s family. Her oldest daughter is able to study Business Administration, and plans to help expand her mother’s business. Esmeralda would like to receive additional loans to expand her workspace and make her open-air kitchen more sanitary. She is grateful for the support that microcredit loans have provided, and plans to be a borrower for years to come.

By Nicholas Vandervelde
WCCN Intern