Partner since: 2014
Founded in 2004, MiCredito is a microfinance institution (MFI) headquartered in Managua, Nicaragua. In addition to their 12 branches in Nicaragua, MiCredito has an additional branch in San Jose, Costa Rica, dedicated to providing services to the Nicaraguan diaspora community. As a Nicaraguan refugee in Costa Rica, access to credit is limited as banks require clients to present a Costa Rican ID. However, MiCredito’s Costa Rican branch is able to accept other forms of Nicaraguan identification to verify credit history and previous business ownership in Nicaragua. While MiCredito is Envest’s largest partner in Nicaragua, it is still considered a small, tier 3 MFI providing an average loan size of about $1500. MiCredito is a highly efficient MFI with a vision of growth throughout Central America by empowering women, refugees and agricultural clients.