Nicaragua > AFODENIC

About the Field Partner

Field Partner:	AFODENIC
Field Partner Risk Rating:	(Learn more)
Time On Kiva:	23 months
Kiva Entrepreneurs:	2897
Total Loans:	$1,653,225
Delinquency Rate:	0.03%
Default Rate:	0.00%
Currency Exchange Loss Rate:	0.00%
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Kiva Fundraising Status

Fundraising Status:	Active
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Other Information Sources

MIX Profile:	View MIX Profile
Network Affiliation:	REDCAMIF - Red Centroamericana de Microfinanzas
Social Performance Reporting Level:	N/A
Consumer Protection Principles:	Endorsed
Field Partner Website:	View Website
Email Contact:	info@afodenic.com

The organization strives to fulfill its mission by integrating economic and human resources in order to provide and adapt financial services aimed at improving the economic statuses of the families of clients—individual producers, organized cooperatives, and small and micro-entrepreneurs from both the city and the countryside.

AFODENIC provides micro-loans for agricultural activities, livestock cultivation, and house repairs, as well as microenterprises/small businesses. The organization’s clients in the farming industry work in a range of areas, including breeding, milk production, calf retention, and the cultivation of pineapple, plantains, vegetables, coffee, fruit-bearing trees, and basic grains.

In 2006, AFODENIC began providing micro-credit within the most vulnerable neighborhoods of Managua, such as Hialeah, Memorial Sandino, Barrio 360, Villa Reconciliación, Laureles Sur, and Laureles Norte. AFODENIC has contributed to the improvement of these neighborhoods through the creation of jobs, improvements in home infrastructure, and the maintenance of small businesses.

One of AFODENIC’s most successful programs was the construction of nearly 500 homes in Juigalpa for people in the healthcare, education, and municipal services sectors. AFODENIC sought to combat the area’s housing shortage by building low-cost housing that could be purchased on credit at a low interest rate. The project, which was developed with the support of the city of Juigalpa, contributed significantly toward alleviating the housing problem in the area.

AFODENIC has worked on several social projects in the department of Chontales in conjunction with the Rural Institute of the Tropics. Together they have established various technical assistance and training programs, which have included assisting cooperatives with administrative and legal consolidation, creating a center to train farmers in the use of new agriculture technology, and teaching basic computer programs and Internet use.

As a social institution committed to improving the country, AFODENIC partnered with the Center for Socio-Educational Research at the UNAN-Managua University to promote research within the classroom at schools in Managua and Carazo. Also in the realm of education, AFODENIC recently initiated a new credit program to fund loans to students studying at universities or technical schools.

The organization’s funders have included Fundación Barceló, PTM-Mundubat, and Oikocredit. In addition, AFODENIC is affiliated with the Association of Microfinance Institutions from Nicaragua (ASOMIF), which is part of the Central American Microfinance Network (REDCAMIF). With the support of the Banco Interamericano de Desarrollo, AFODENIC was recently evaluated by the specialized microfinance rating agency Planet Rating.

AFODENIC began working with Kiva in early 2008 and has a four-star field partner risk rating.

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