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

Status update — July 18, 2016

Kiva recently re-assessed the level of risk associated with loans from this Field Partner. During this process, our analysts gathered updated operational and financial information about the institution, spoke with key members of the staff and analyzed the Field Partner’s loan products. As a result, MiCrédito's risk rating is now listed as 4 stars instead of 3 stars. The primary reasons for this change in rating are the organization's strong, sustainable growth and improved portfolio quality.


Partner description:

MiCrédito reaches underserved populations in both urban and rural Nicaragua. The organization strives to offer products tailored to meet client needs, and embraces new mobile technology to serve clients more efficiently and effectively. For example, loan officers equipped with smart phones are able to make credit decisions in the field, saving time and money for both clients and MiCrédito.  Find out more about MiCrédito by visiting their website.

A unique lending approach:

MiCrédito offers several types of loans that can have a positive impact on borrowers, their families and their communities.

Student loans:

Their student loan program, EduCrédit, covers the high costs of education in Nicaragua. The objective is to provide students with the opportunity to achieve their goals and find gainful employment through education. Learn more in this video>

Sanitation loans:

MiCrédito’s sanitation loans are designed to allow families to replace latrines, which can contaminate the surrounding environment, with high-efficiency toilets. 

This change can be transformative, improving family health and hygiene.

Clean energy loans:

Many rural communities in Nicaragua don’t have access to electricity. MiCrédito is now financing solar products for these off-the-grid communities, allowing them to substitute candles for solar lamps.

MiCrédito has partnered with Global Partnerships to provide solar home systems, which dramatically improve standards of living for the households served.


Other programs and services:

For people living at or below the poverty line, opening a savings account is a daunting and difficult process. Upon receiving a loan, MiCrédito opens a savings account on behalf of the borrower at Banco de América Central. The loan is disbursed to the savings account and the borrower is provided a debit card to access the funds. By providing access to the formal banking sector, MiCrédito aims to help borrowers increase their savings.

MiCrédito is also committed to improving the health and well being of its borrowers. In conjunction with the AMOS Foundation, MiCrédito offers clients access to preventative medicine and medical exams. This includes screenings for a variety of health conditions, including breast and cervical cancer, high-cholesterol and diabetes.  

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 1, 2010 Oct 12, 2005
Total Loans $3,242,850 $874,960,175
Amount of raised Inactive loans $0 $710,400
Number of raised Inactive loans 0 536
Amount of Paying Back Loans $834,575 $136,648,425
Number of Paying Back Loans 816 167,060
Amount of Ended Loans $2,408,275 $737,601,350
Number of Ended Loans 3,733 916,439
Delinquency Rate 0.35% 8.46%
Amount in Arrears $1,809 $7,476,165
Outstanding Portfolio $520,064 $88,321,485
Number of Loans Delinquent 10 22,435
Default Rate 0.49% 1.32%
Amount of Ended Loans Defaulted $11,828 $9,707,641
Number of Ended Loans Defaulted 38 27,160
Currency Exchange Loss Rate 0.00% 0.44%
Amount of Currency Exchange Loss $0 $3,823,595
Refund Rate 0.11% 0.65%
Amount of Refunded Loans $3,700 $5,700,625
Number of Refunded Loans 5 5,834

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 62.53% 74.90%
Average Loan Size $713 $407
Average Individual Loan Size $713 $640
Average Group Loan Size $0 $1,805
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $4,800 $5,934
Average Loan Size / GDP per capita (PPP) 14.85% 6.86%
Average Time to Fund a Loan 10.4 days 6.92 days
Average Dollars Raised Per Day Per Loan $68.54 $58.85
  Average Loan Term 12.82 months 11.06 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,459 448,256
  Journaling Rate 31.45% 41.61%
  Average Number of Comments Per Journal 0.01 0.05
  Average Number of Recommendations Per Journal 0.00 1.27

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 44% PY 27.00% PY 26.93% PY
  Profitability (return on assets) 6.9% 0.9% -0.98%
  Average Loan Size (% of per capita income) 95.40% 40.00% 18.82%

Country Fast Facts

Field Partner Staff

Humberto Galo
Veronica Herrera
Brian Jarquin
Juan Carlos López
Alexander Selva
Lyann Urbina Herrera