Caritas Esteli | MFIs in Nicaragua

Gross Loan Portfolio USD, 2010: 726,238.4

Number of active borrowers 2010: 1,640

Average loan balance per borrower USD, 2010: 442.8

Deposits USD, 2010: 0.0

Assets USD, 2010: 793,369.9

Number of depositors 2010: 0

Mission:

La Pastoral Social-Cáritas de Estelí,inspirada en el Evangelio y la Doctrina Social de la Iglesia esta llamada a la promoción del dasarrollo humano integral y sostenible, justicia social y contribuir desde la caridad a la reducción de la pobreza, a traves de programas, proyectos y acciones de ... Read more

Background and Main Challenges:

De manera General, las tendencias y los retos sugieren la necesidad de que Cáritas de Estelí, como entidad creada para los más necesitados debe ser capaz de actuar por el projimo reconociendo su entorno, revalorizando sus potencialidades y ventajasr comparativas, movilizando el recurso humano ... Read more

Address:

Costado noreste de Catedral 1 1/2c al Este

Estelí

Nicaragua

Phone:

505-271 32040

Fax:

505-27137344

Email:

cedoc [at] caritasesteli [dot] org

Website:

www.caritasesteli.org

Main Funding Sources:

Loans

Products and Services:

Loans

Voluntary Savings

Services Provided:

Health

Education

Other

Looking for (Investment Types):

Loans in Local Currency

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1999

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	1
Clients living in urban areas	2
+ Development goals (ranked by importance)
Poverty reduction	1
Water and sanitation	2
Employment generation	3
Housing	3
Health improvement	4
+ Poverty targets
No specific poverty target
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Loans for agriculture
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Basic health/nutrition education
+ Health services offered
Basic medical services
servicio de venta social de medicamento, consulta medica y odontologica
+ Women's empowerment services offered
A nivel de servicio en los programas de agricultura, agua y saneamiento y gestion de riesgo
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Quality of interaction with clients based on client feedback mechanisms
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution trains/educates clients regarding environmental improvements
This institution identifies enterprises with environmental risk
This institution offers lending lines linked to alternative energies

+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
REMISOL	Network Affiliation

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