FUNDESER (Foundation for Rural Socioeconomic Development)

Mission: To build capabilities and opportunities in communities and families in rural territiries of Nicaragua, and to bring about changes in their situation of exclusion and social vulnerability.

Specialty: Rural Lending

Organization Profile: FUNDESER is a fast growing microfinance institution with an immense social impact. This organization serves hard to reach communities struggling with widespread poverty. Located in such areas as Siuna, El Rama, Juigalpa, El Cuá, El Viejo, and Matiguás, FUNDESER provides invaluable financial resources. FUNDESER supplies these towns with monetary support through loans for livestock, agricultural, commerce, services, consumption, and housing. A great portion of these loans go to rural farmers and livestock owners, who often live in the poorest communities of Nicaragua.

Along with offering credit, FUNDESER also works to provide remittance services to its members, allowing individuals to send money home to their families in Nicaragua. These funds are especially valuable to rural families, giving them support during difficult seasons.

NICA Fund Partner Since: 2006

Borrowers: FUNDESER lends to 15,138 total borrowers, and of these individuals, 45% are women and 55% are men (as of June 2007).

Lending Portfolio: FUNDESER has an average loan size of $655, with a total lending portfolio of $9,921,463. Of this portfolio, 69% goes to agriculture and livestock, 18% for commerce, small enterprise, and industry, 6% housing, 4% services, and 3% consumption (as of June 2007).

Website: http://www.fundeser.org.ni/