Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

The Institution

On April 1988, the Fund for the Development of the Communities of Morazán and San Miguel (PADECOMSM, its Spanish acronym) was born as a response to the vacuum that was created during the armed conflict in the region during 1980-1990. It was not until October 1994 that PADECOMSM formally became a legal entity so that it could continue to attend the social needs, such as health or education, in the region. PADECOMSM also had a Credit Program, which was created to meet the financing needs of small farmers. With time and its quality services, the financial arm of the organization expanded to other sectors such as commerce, small industry, services and consumption loans.

To better position itself in the regional market, in 2004 the financial arm of PADECOMSM moved its headquarters to the Morazan state capital of San Francisco Gotera. On May 25th, 2007, PADECOMSM split its financial arm into PADECOMSM Credito, a cooperative. Under this new structure, PADECOMSM continues its social mission while PADECOMSM Credito focuses on the microfinance sector.

PADECOMSM Credito has now expanded to five offices in the eastern part of El Salvador. Its branches are in San Francisco Gotera, Corinto, San Miguel, Jucuapa, y Transito. With each new branch, its strengthens the quality of its services and its aim to develop financial services with a focus on their social impact.


To become a leading financial institution that satisfies the needs of the small and micro entrepreneurs through outstanding services and relationships with clients.


We are a financial institution specializing in accessible and timely financial services for small and micro entrepreneurs, with profits and social responsibility; thus contributing to the improvement of our clients quality of life.


Currently PADECOMSM Credito has a network of 5 branches in the following geographic locations:

2004: San Francisco Gotera, in the State of Morazán.

2005: Corinto, in the State of Morazán.

2006: San Miguel, in the State of San Miguel.

2008: Jucuapa, in the State of de Usulután.

2010: El Transito, in the State of San Miguel


Honesty: Transparency and clarity in any situation, including problems.

Loyalty: Alliance to the principles, norms, team values, to our clients, members and to the organization.

Respect: Recognizing others ideas, feelings and way of action; above all listening to others.

Transparency: Transparency in our information to clients, our investors, our colleagues, and the Board

Responsibility: Doing what needs to be done on the time schedule that was agreed upon, keeping in mind our agreements with our team, our clients, and our partner institutions.

Solidarity: Constant support to reach the final objective of each member of our team and the organization; sharing both triumphs and failures.

Humility: Humbleness to appreciate the contributions of others, the limitations of the organization, and the capacity of the members of our team.

Commitment: Committing to the objectives of the organization, integrating oneself to all the activities of the institution, to attain sustainable advantages.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva May 21, 2010 Oct 12, 2005
Total Loans $10,870,700 $1,386,245,350
Amount of raised Inactive loans $0 $311,150
Number of raised Inactive loans 0 112
Amount of Paying Back Loans $978,250 $147,030,550
Number of Paying Back Loans 1,507 192,926
Amount of Ended Loans $9,892,450 $1,238,903,650
Number of Ended Loans 17,513 1,601,667
Delinquency Rate 3.29% 10.75%
Amount in Arrears $22,476 $9,775,922
Outstanding Portfolio $551,527 $90,928,757
Number of Loans Delinquent 127 40,173
Default Rate 1.63% 1.75%
Amount of Ended Loans Defaulted $161,122 $21,697,276
Number of Ended Loans Defaulted 589 52,556
Currency Exchange Loss Rate 0.00% 0.38%
Amount of Currency Exchange Loss $0 $5,291,386
Refund Rate 0.30% 0.59%
Amount of Refunded Loans $32,800 $8,161,725
Number of Refunded Loans 50 8,140

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 71.36% 76.51%
Average Loan Size $572 $392
Average Individual Loan Size $572 $608
Average Group Loan Size $0 $1,756
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $7,500 $5,759
Average Loan Size / GDP per capita (PPP) 7.62% 6.81%
Average Time to Fund a Loan 12.87 days 7.13 days
Average Dollars Raised Per Day Per Loan $44.43 $55.01
  Average Loan Term 13.3 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 12,085 844,541
  Journaling Rate 60.73% 43.43%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.02 0.76

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 33% PY 31.00% PY 26.15% PY
  Profitability (return on assets) 3.1% 0.7% -2.30%
  Average Loan Size (% of per capita income) 32.10% 34.00% 12.52%

Country Fast Facts

Field Partner Staff

Juan Barbed
Judith Marisela Bermudes Guzman
Rubidia Marquéz de Amaya
Brandon Vaughan