Fundación para el Desarrollo de Nueva Segovia)

Gross Loan Portfolio USD, 2010: 6.2 million

Number of active borrowers 2010: 10,982

Average loan balance per borrower USD, 2010: 563.5

Deposits USD, 2010: 0.0

Assets USD, 2010: 7.4 million

Number of depositors 2010: 0

Mission:

Ser una institucion especializada en Microfinanzas, con el objetivo fundamental de contribuir al desarrollo socio-economico de los micros y pequeños empresarios nicaraguenses, a traves de nuestros servicios financieros de forma agil, oportuna y eficiente, para lograr la sosteniblidad y mejorar ... Read more

Background and Main Challenges:

Brindar servicios financieros de alta calidad, con las mejores alternativas crediticias para el sector de la Microempresa Urbana y Rural, que cumple con estándares internacionales de calidad y que opera en el mercado nacional dentro del marco de una Institucion regulada.

Address:

Del Centro de salud 1/2 cuadra la norte

Ocotal

Nueva Segovia

Nicaragua

Phone:

(505) 2732-2060

Fax:

(505) 2732-3483

Email:

dejecf [at] ibw [dot] com [dot] ni

Main Funding Sources:

Loans

Products and Services:

Loans

Training and Consulting

Products:

Individual and Solidarity Loans

Services Provided:

Other

Looking for (Investment Types):

Loans in Local Currency

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1993

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	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Poverty reduction	1
Employment generation	2
Gender equality and women's empowerment	3
Growth of existing businesses	4
Development of start-up enterprises	5
Improvement of adult education	6
Housing	7
Increased access to financial services	8
Youth opportunities	9
Children's schooling	10
Health improvement	11
Water and sanitation	12
+ Poverty targets
No specific poverty target
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
SME loans
Loans for agriculture
Loans for education
Housing loans
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
Remittances services
+ Non-financial services offered
+ Enterprise services offered
Emprende joven que consiste en financiar planes de negocios a egresados de universidades
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
Leadership training for women
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Creditos para empresas emergentes,
+ 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.
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
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution identifies enterprises with environmental risk

+ Poverty measurement tools in use
Own proxy poverty index

Partnerships

Current
Name	Relationship
ASOMIF	Network Affiliation
MFSI	Vendor
Oikocredit	Funding
Oxfam Novib Fund	Funding
Planet Rating	Rating
Red Katalysis	Network Affiliation
REDCAMIF	Network Affiliation

MFI Report