Our first 10 years
Over a decade of providing micro credit and sustainable development help in Nicaragua! There is much to celebrate, even as there remains much exciting still on the horizon. Exactly 20 years ago we extended our first micro-loan to women weavers in León, Nicaragua. Without the original $500 loan back in 1990 their small cooperative would not have reenergized itself and would, almost certainly, not be alive today. But today, two decades later, thanks to their hard work and the faith and confidence of SosteNica staff and investors, they are developing new products for new markets.
Highlighting ten micro-credit borrowers over ten years. We’ve created this slide show of micro-credit borrowers who have been borrowing for ten years to celebrate the change possible in one decade of work. The stories are diverse and real; they are inspirational and reaffirming. We invite you to meet them and their families by clicking through the slide show. The you can ensure that we celebrate another decade of hard work by investing to help us reach our goal of a 10% increase in our portfolio.
Crecencio Froilan Perez
- First loan: Sept. 5, 2001
- Current loan: Sept. 21, 2009
- Loans to date: 2
- Types of loans: Industrial and Housing
Crecencio Frolian Perez took his first loan out to purchase a mill to grind tortilla flour in his small community and then began working as a mechanic. Two years ago he took another loan out to build an addition on to his house for his son’s family. Don Crecencio lives alongside of four of his siblings, and they make decisions as a family, so when he wanted to take the loan out he first spoke with all of them and they agreed to support him. By backing each other in this way the whole family has always maintained a perfect credit history. Don Crecencio and his wife Candida Medina have three children, all of whom have graduated high school and live nearby. Crecencio and his son did all of the construction work, and compiled a list of all the materials they would need to define the size of the loan. The addition has doubled the size of their house.
Over the last ten years Don Crecencio has seen credit become more accessible to rural communities. He has supported many of his family members when they have applied for loans, and is currently helping one of his sons apply for a loan to purchase a motorcycle. When asked about the quality of loan service, Crecencio says that he will always recommend SosteNica/CEPRODEL. “That’s where my credit history was born, I put all my trust in them!” he says. His dream for the next ten years is to see Nicaragua develop more infrastructure, and for him and his family to find work in construction. Congratulations to Don Crecencio and his family!