Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.
About ADIM:
  • Founded in 1989 by Patricia Padilla, Sister Mary Alice McCabe and a small group of respected female entrepreneurs from the area of Masaya.
  • A development institution that promotes micro-business development for the poor and provides access to capital for individuals who can benefit from micro-credit.
  • More than 90% of clients are women (in addition to 47% staff and 100% of board of directors).
  • Approximately 40% of clients are the primary income generators for the family.
  • Of those 40%, 67% are between the ages of 46 and 61.
  • Total number of clients: 3,738
  • Coverage:  ADIM operates in the Southern Pacific region of Nicaragua, with offices in Managua, Masaya and Rivas.


  • Mix/REDCAMIF Award of Transparency (2004 through 2009)
  • ASOMIF Award for “Best Practice in the Area of Gender-Focus” (2009)

Financial Services:

  • Group Loans/Solidarity Lending—This methodology promotes communication, trust, discipline and conflict resolution between groups of 3 to 6 individuals and accounts for 65% of loan portfolio.
  • Individual Loans—Require a well-established business and account for 35% of loan portfolio.

Additional Services Offered

ADIM offers courses in the following areas:

  • Business Development
  • Development of Personal Autonomy
  • Business Exchange
  • Coordination of Economic Actors
*All courses are offered free of charge for ADIM’s clients and are oriented towards the women of Nicaragua.

Show your support and join our lending team, Friends of ADIM. From all parts of the world we can make an even bigger impact by working together!

Update from Kiva Staff on July 7, 2011:

In recent years, the "No Pago" movement (a movement for non-repayment of loans) has created concern around the increased risk of loan non-repayment by Kiva borrowers in Nicaragua. As a result, last year Kiva posted a loan alert on Nicaraguan loans, warning lenders about the potential risks of lending to entrepreneurs in Nicaragua. Earlier this month though, the government passed a new microfinance law that has addressed many of these concerns. As a result, the situation appears to have resolved itself and the "No Pago" loan alert is being removed.

We will update this page if there is any additional information available.

Update from Kiva Staff on July 19, 2010:

In order to help you better understand the potential risks of lending to entrepreneurs in Nicaragua, Kiva continues to provide information on the “No Pago” movement (a movement for non-repayment of loans).

The momentum behind the No Pago movement appears to have largely dissipated, as a result of the National Assembly's passage of a law in April 2010. This new law allows delinquent borrowers (as of June 2009) to re-negotiate loans with more favorable interest and terms. Borrowers who were part of the No Pago movement were required to approach MFIs to re-negotiate their loans by May 12th of this year. While many borrowers did approach MFIs to re-negotiate their loans, it still only accounted for a small percentage of the members of the No Pago movement.

For Kiva lenders who previously lent to Nicaraguan borrowers: 

  • if your loan had default coverage, then even if your loan was affected, the MFI will cover your loan for the full amount.
  • if your loan did not have default coverage by the MFI: If the borrower you lent to did not approach their MFI before May 12th, their loan cannot be re-negotiated under the terms of the No Pago movement resolution. Kiva is working closely with its Field Partners in Nicaragua to see if any Kiva clients have re-negotiated their loan under this law and will message to lenders accordingly.

For Kiva lenders considering making new loans in Nicaragua: it seems that as a result of the passage of this law and since the term for re-negotiation has passed, the microfinance situation is calmer in Nicaragua that previously. Kiva will continue to update the Kiva lender community if the situation changes significantly.

A Note on ADIM's Portfolio Yield:

We care deeply about the cost that Kiva borrowers pay for their loans, which is why fair pricing is a core part of our initial due diligence process for Field Partners. With Kiva's 0% capital, many of our Field Partners are also able to add additional value to their loans by reducing interest rates, offering non-financial services or creating new loan products.

For partners with reported portfolio yields or average APRs higher than 50%, Kiva takes steps to check that the high rates are justified by the impact of the loans. Kiva also verifies that the partner is not generating unreasonable profits or paying inflated salaries, and that the partner’s elevated operating costs are justified by its operating environment and/or the design of its loan products.

We seek to support loans that don’t impose an unjustifiable cost burden on hard-working borrowers. We nevertheless recognize that in order to reach vulnerable and excluded people with high-impact products and services, some of our partners incur high costs that necessitate charging higher-than-average costs to borrowers in order to allow for sustainability and scale.

Factors that drive up the costs that this partner organization charges its borrowers include:

  • They provide more than just cash to many of their borrowers, including costly wraparound services such as healthcare, financial or business training, agricultural extension services, insurance or access to education.
  • They’re based in an area with a high cost of living and doing business. This is often due to the high demand and low supply of adequate housing and goods.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 1, 2008 Oct 12, 2005
Total Loans $4,872,550 $994,392,850
Amount of raised Inactive loans $0 $260,175
Number of raised Inactive loans 0 305
Amount of Paying Back Loans $520,300 $154,159,625
Number of Paying Back Loans 563 196,300
Amount of Ended Loans $4,352,250 $839,973,050
Number of Ended Loans 4,851 1,055,657
Delinquency Rate 2.15% 8.64%
Amount in Arrears $7,257 $8,858,527
Outstanding Portfolio $337,807 $102,532,254
Number of Loans Delinquent 37 30,799
Default Rate 0.24% 1.42%
Amount of Ended Loans Defaulted $10,364 $11,907,245
Number of Ended Loans Defaulted 40 34,289
Currency Exchange Loss Rate 0.00% 0.45%
Amount of Currency Exchange Loss $3 $4,517,253
Refund Rate 0.11% 0.60%
Amount of Refunded Loans $5,175 $5,985,075
Number of Refunded Loans 7 6,003

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 90.76% 75.51%
Average Loan Size $358 $398
Average Individual Loan Size $525 $627
Average Group Loan Size $1,088 $1,756
Average number of borrowers per group 3.3 7.7
Average GDP per capita (PPP) in local country $4,800 $5,870
Average Loan Size / GDP per capita (PPP) 7.47% 6.78%
Average Time to Fund a Loan 8.39 days 6.92 days
Average Dollars Raised Per Day Per Loan $42.74 $57.53
  Average Loan Term 6.76 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 4,158 519,970
  Journaling Rate 70.90% 41.10%
  Average Number of Comments Per Journal 0.02 0.05
  Average Number of Recommendations Per Journal 0.82 1.14

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 58% PY 27.00% PY 26.33% PY
  Profitability (return on assets) 5.24% 0.9% -1.08%
  Average Loan Size (% of per capita income) 14.20% 40.00% 16.31%

Country Fast Facts

Field Partner Staff

Jennifer Cantillano
Javier Flores
Marcela Martinez
Lester Enrique Rodriguez Herrera
Solansh Ruiz
Esmirna Tercero