The project

Mery lives with her family in Granada, Nicaragua. After losing her job as a domestic worker due to issues with her employer, she sought support from MiCrédito. With the microloan, she purchased perfumes and beauty products to start her own business.

A second loan allowed her to expand her inventory and buy a horse, which she used to start a transport service. With this transport service, she delivers stones and cement for various clients, generating additional income.

The impact of the microloan on Mery and her family’s life has been tremendous. Her children can now attend school, there is enough food on the table, and she recently bought a washing machine. In the future, Mery plans to buy a piece of land to set up a physical store for selling grains. Her determination and hard work have significantly improved her life, and she’s planning on continuing that road.

What social return could your investment make?

Nicaragua is one of the poorest countries in Central America, with limited access to financing for farmers and small-scale entrepreneurs. MiCrédito plays a crucial role in supporting these communities by providing loans and advice.

MiCrédito staff travel door-to-door on motorcycles in rural areas, allowing them to have personal contact with clients and a good understanding of the local population. This personal approach ensures targeted assistance, including financial education and technical guidance. This helps entrepreneurs improve their business operations and increase profitability.

With an average loan of €1,200, MiCrédito has already improved the lives of more than 8,000 families. Notably, 60% of the loans go to female entrepreneurs, contributing to gender equality and strengthening the economic position of women.
 

What financial return could your investment generate? 

• Annual interest rate 5.5%.
• The maturity of the loan is 24 months.
• Repayment of your investment in equal instalments every six months. That means you will receive the repayment of your loan in 4 equal instalments, one every 6 months until the maturity of 24 months, along with the interest.
• With an investment of 1,000 euros, your expected total repayment would be 1,069 euros.

The story of MiCrédito

MiCrédito, founded on July 1st, 2004, represents a significant evolution in Nicaragua's microfinance sector. Originating from the experience and leadership of its management team and the Mennonite Economic Development Associates (MEDA), MiCrédito was established to provide enhanced financial services, particularly targeting the underserved rural areas of Nicaragua.

In September 2012, after eight years of dedicated institutional development, MiCrédito incorporated as a share-based company, marking a milestone in its growth. A year later, it gained official recognition from CONAMI, the National Commission of Microfinance in Nicaragua, further solidifying its presence in the microfinance landscape. MiCrédito's commitment to supporting its clients, partners, and shareholders continues as it collaborates closely with CONAMI, aiming for substantial social and financial impact in the communities it serves.

MiCrédito in numbers

• Founded in 2004
• 94 employees, 59% female
• 11 branches throughout the country
• As of 2023, 60% of loans went to female entrepreneurs