Fundación Internacional para la Asistencia Comunitaria - Nicaragua

Gross Loan Portfolio USD, 2010: 5.0 million

Number of active borrowers 2010: 15,293

Average loan balance per borrower USD, 2010: 325.0

Deposits USD, 2010: 0.0

Assets USD, 2010: 6.5 million

Number of depositors 2010: 0

Mission:

Contribuir al mejoramiento del nivel de vida de las comunidades especialmente las de escasos recursos, mediante asistencia tecnica, financiera y capacitación.

Background and Main Challenges:

Convertirse eun una institucion regulada por la Superitendencia de Bancos de Nicaragua, poder captar depositos y tener presencia a nivel nacional.

Address:

De la Rotonda del Gueguense, 3 cuadras al Lago, junto a Su Medico

Bario Bolonia, Managua

Nicaragua

Phone:

(505) 2254-5120

Fax:

(505) 2252-4252

Email:

jarguello [at] villagebanking [dot] org

Website:

www.FINCAnicaragua.com.ni

Products and Services:

Loans

Insurance

Fund Transfer Services

Services Provided:

Business Development Services

Looking for (Investment Types):

Loans in Local Currency

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1992

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in urban areas	1
Clients living in rural areas	3
+ Development goals (ranked by importance)
Increased access to financial services	1
Gender equality and women's empowerment	2
Employment generation	2
Housing	3
+ Poverty targets
Low income clients
+ Governance
Has trained members of its board on social performance management
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Loans for agriculture
Housing loans
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
Remittances services
Compra y venta de divisas
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
Asesoria tecnica para administrar eficientemente su credito
+ 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
Outreach to women
Quality of interaction with clients based on client feedback mechanisms
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
ASOMIF	Network Affiliation
FINCA International	Network Affiliation
MFSI	Vendor
Microfinanza Rating	Rating
REDCAMIF	Network Affiliation

MFI Report