Financiera FINCA Nicaragua opened in 1992 to support entrepreneurship and extend finance to the unbanked. Focusing on the group lending model, the institution provided financial services designed primarily for women and rural borrowers. FINCA Nicaragua continued to expand to meet the needs of a growing market, opening new service locations and offering a diverse range of financial products.
More than 25 years since first launching, the institution serves more than 11,000 clients through a network of branches and through branchless banking channels. With its headquarters in Managua, the institution now covers all regions of the country.
FINCA Nicaragua offers credit products including: group and individual loans; small- and medium-enterprise loans; agriculture loans; and home improvement loans. Each loan package is personalized and designed to help the borrower grow their business and attain financial self-sufficiency. 2011 marked a major milestone for the institution, as it transitioned from a non-profit to a regulated microfinance institution. That year it also offered individual loans for the first time.
FINCA Nicaragua has become a leader in the responsible finance market because of its ability to reach clients through a number of outreach channels. In 2018, it launched a network of banking agents to ease the loan repayment process. Now, rather than travel long distances to a bank branch, more clients can make loan repayments by visiting an agent based in their town or village. The time and resources that were previously spent traveling can now be devoted to productive economic activities.
Financiera FINCA Nicaragua received Smart Certification in 2017, in recognition of its 25+ year commitment to industry-leading client protection principles. The institution has become a leader in the microfinance industry by providing responsible products and service from a diverse range of channels.