photo by Steve Sugrim
MiCredito was founded in 2004 as a not-for-profit provider of financial services to underserved rural and urban communities in Nicaragua. MEDA has a long history of providing investment capital and technical assistance to MiCredito, which has grown to 12 branches serving 8,000 clients across the country, with over 8500 loans. MiCredito converted into a corporation in late 2012 and is now owned by over 20 shareholders, including MEDA. Ricky Nelson Lopez’s shave ice business in Managua, Nicaragua, was funded by a loan from MiCredito. Lopez thanks God for MiCredito’s assistance in establishing his business. “I’m thinking of growing more, to have more employees, to have more locations at schools,” he said. “I want to have more locations and be like a microenterprise.”
The Marketplace September October 2017
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