Nicaragua: Fundeser Becomes Financing Company

Micro financing company Fundeser, also known as the Foundation for Socio Economic Rural Development will in February its formal application to become a regulated financial company.

Tuesday, December 18, 2012

Since 2008 there has been interest from the Foundation to be regulated by the Superintendency of Banks and Other Financial Institutions (Siboif), but the proceedings were suspended because of the financial crisis.

Rene Romero, Fundeser’s CEO, told the press that it has completely overcome the crisis, which is reflected in the consolidation of finance, the growth of the loan portfolio, the return to profitability and decreased arrears.

'Today we are one of the strongest microfinance institutions in the country and in the region and for this reason we believe that it is time to restart the project to be regulated' he said.

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