The SosteNica Family

August 18, 2016

Gloria Maria Palma Munguia

  • First loan: Nov. 24, 2000
  • Loans to date:  13
  • Types of loans: Commercial
Ten years ago Gloria Maria Palma Munguia chose to work with SosteNica/CEPRODEL because she had heard that they were flexible, had reasonable interest rates, and good personal attention.  She has found all that to be true, and has even referred several of her friends and family members to take loans out as well.  Her first loan was only $50, and helped her to set up a small store in the front of her house to sell bread, oil, sugar, and rice.  The shop was successful, but then she was offered a job working for a charity organization.  She closed her shop down and spent nearly five years working in the office, but when the charity office closed and moved to a different city, she returned to work from home.  Now she sells mostly cosmetics, cleaning supplies, and house wares, and her loan size has grown to $400.  In addition to the small store at her house, she has a route through the commercial  center of town, taking special orders from her clients.  She has always received help from the SosteNica/CEPRODEL credit officers, even down to advice for how to sell her own products on credit.  Doña Gloria has never married, and she lives with her mother, sister, nieces and nephews.  She covers her own cost of living with her business, and her extra earnings go to help contribute to her niece and nephew’s schooling.  Her dream for the next ten years is that her business will grow and she will be able to help provide employment to one of her family members.  She would like to see her niece and nephew graduate into a Nicaragua with employment opportunities for them in the future.  You are an inspiration to your family, Doña Gloria!
August 18, 2016

Nidia Mariana Hernandez

  • First loan: Dec. 5, 2000
  • Loans to date:  11
  • Types of loans: Commercial
When Nidia Mariana Hernandez’s husband was working for the local electrical company and ran electrical cables to their house, they became the first house in the community to have electricity.  Doña Nidia celebrated by taking out a loan to buy a refridgerator with a freezer and selling ice and cold drinks.  At the time, she and her husband lived on 10 manzanas she inherited fom her father, deep in the indigenous Subtiaba region of León, 18 km from the city center.  Nidia’s husband was able to bring other products from the city when he travelled with his electrical work, and their business grew.  With limited education themselves, Nidia and her husband have accomplished alot for their family.  Although her husband never finished primary school, his company selected him to receive a scholarship for a degree in electrical engineering and then hired him as an installations manager.  Their three children all entered Universities in the city, and then married and chose to stay in the city.  Nidia continues to maintain the family farm with the funds from her small store, and has made impressive investments in the farm such as a new roof, a 20 meter deep well, and fencing to create more grazing pastures.  Although she is proud of her accomplishments at the family farm, she says in the next ten years she is looking forward to retiring to the city.   Her access to credit will help her start up her shop in the city, and she will be closer to her children and grandchild.  Best of luck, Doña Nidia!
August 18, 2016

Yamileth Tomasa Santana Moran

  • First loan: June 23, 2001
  • Loans to date:  4
  • Types of loans: Cattle and Housing
Yamileth Tomasa Santana Moran and her husband Javier Francisco Cortez were part of a rural land cooperative after the Nicaraguan Revolution.  When their cooperative dissolved in the 1990s, the land was divided up amongst the members and each family had to find their own financial support to build houses and start businesses.  Doña Yamileth applied for a loan to purchase their own cattle for their land, but they and their five children continued to share a house with several of her family members.  This year they took out a loan, which, together with years of savings, they were able use to build a house just for their family.   To help them pay their loan back, they have started a small store, selling chips and drinks to the school children who walk past their house twice a day.  Yamileth and Javier hope that in the next decade they will be able to continue adding improvements to their house, such as a tiled floor and wooden door, and plant some fruit trees in the yard.  Congratulations on their new house!
August 18, 2016

Rafael Antonio Vargas Juarez

  • First loan: Sept 19, 2001
  • Loans to date:  4
  • Types of loans: Agriculture and Cattle
Rafael Antonio Vargas Juarez has taken out loans for many different activities over the years, from planting corn and sorghum in his fields at the base of Volcano Telica, to purchasing cattle, storing grain, and even starting an ice cream store.  His three children have all graduated university or technical school, and two of them are lawyers and one a mechanic.  His eldest of six grandchildren is currently studying economics at the National Autonomous University of Nicaragua in León.  In addition to raising and educating his family, over the past ten years he has purchased a pick-up truck and tractor with implements, and invested in improving the genetic makeup of his cattle herd, purchasing cattle from thoroughbred beef or milk breeds.  Over the last decade he has struggled through many hardships, including the death of his wife and most recently the crisis in the cattle market.  But even in the most difficult of times, Don Rafael Vargas never fell behind on a payment.  His dream for  Nicaragua over the next ten years includes a stable agricultural market so that all small farmers able to live well off their land and provide better futures for their children.  We wish you the best of luck on your fertile land, Don Rafael!
August 18, 2016

Over two decades of providing micro credit and encouraging sustainable development in Nicaragua!

 There is much to celebrate, even as there remains much exciting work yet to accomplish. During our first decade (1990-2000), SosteNica operated as a program under the generous protective umbrella of the New Haven/León Sister City Project. Nearly a quarter century has passed since that program extended the first micro-loan — to a women’s weaving cooperative in León, Nicaragua. With that originaluploads/2013/03/Weaving-Coop2.jpg">Their stories are diverse and real — inspirational and reaffirming.Many of these stories are like that of the women’s weaving cooperative. We have created the following slide show of families and individuals, who have been borrowing and repaying micro-loans over the decades. We want to celebrate the positive change we’ve discovered that we can achieve with commitment and hard work. Their stories are diverse and real — inspirational and reaffirming. Get to know them by browsing through their profiles below.  Then, please help us to insure that we celebrate another decade of positive change and hard work together by investing to help us reach our goal of a 10% increase in our portfolio.


Crecencio Froilan Perez

  • First loan: Sept. 5, 2001
  • 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!
August 18, 2016

Maria Antonia Reyes Pasos

  • First loan: Dec. 12, 2001
  • Loans to date: 13
  • Type of loan: Commercial
When time came for Maria Antonia Reyes Pasos to start primary school, her father sent her to work in the cotton fields of Nicaragua instead. Rather than studying, she planted and picked cotton until she married. When she moved to town with her husband, she needed a way to support her new family. With one small refrigerator she began selling ice, beans, sugar and oil out of the front room of their house.  When she wanted to stock the store for Christmas in 2001 and applied for a C$10,000 loan, her family thought she was taking a huge risk.  They under-estimated her.  That Christmas she sold out, paid back her loan ahead of time, and had enough profit left over to purchase a small piece of land. Her store has grown over the years, generating revenue to send all five of her children to university and invest in the land.  She now owns 12 acres with a house, a well, a submergible pump for irrigation, cattle, pigs, a tractor, and a pick up truck.  Her children are farmers, school teachers, and professionals, and they all come during the week to help her run the store.  How did she manage such a successful store? “I’m a numbers woman,” she says, “I check all my costs and earnings carefully, and my family supports me.  They all come to help out after their work.”  She hopes that her business continues to grow over the next decade so that she can help her seven grandchildren also attend University. Doña Maria Antonia’s work truly demonstrates what a strong family can achieve with a little financial support.