Nicaragua: $ 20.6 Million for Microcredit

60% of the funds will go to small and medium size farmers.

Thursday, March 17, 2011

Representatives of the Foundation for Rural Social and Economic Development (Fundesers) noted that about 36 thousand customers will be benefited with a line of credit.

"In the last two and half months Fundeser has recovered foreign funds for up to $ 1.2 million dollars, which will contribute in financing the planned growth for this year," reported Laprensa.com.ni.

More on this topic

Scarce Credit for Honduran Agriculture

October 2012

Only 2.8% of the loan portfolio is for the private sector in agriculture.

The figure corresponds to $223 million out of the $7.97 billion in private sector lending by the banks in Honduras, according to central bank data, and is a significant decrease compared to the end of 2011, when the rate was 4.9% .

Lack of Capital in Microfinancers

April 2012

In Nicaragua, the ‘No Pago’ (Non Payment) movement has generated such distrust in international sources of finance that this year credit lines -which were $80 million-, have barely reached $5 million.

MFIs received less than $5 million in the first quarter of 2012 from international lending institutions, which directly affects their ability to offer more microloans, said Alfredo Alaniz, executive director of the Association of Microfinance Institutions (ASOMIF).

Microcredit Grows in Guatemala

April 2012

Between 2010 and 2011 the microfinance portfolio increased by 23%, going from $84 million to $104 million, averaging $529 per loan.

From the Journal of the Chamber of Industry of Guatemala:

Microfinance institutions in Guatemala maintain a dynamic support for the development and growth of thousands of micro and small businesses around the country, especially in rural areas.

Honduras small businessment complain about microcredit rates

July 2008

Managers of small business firms in Honduras are complaining about the difficulty of getting credit at reasonable rates. Financial organizations say the credit is there and the process isn't onerous.

However, interest rates for this sector are between 19 and 36 percent per year. Some financial institutions charge interest according to the outstanding balance, but in other cases rates are fixed.

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