SOSTENICA with our Nicaraguan partner CEPRODEL (The Center for the Promotion of Local Development) provides credit and technical assistance for environmental sustainability to individuals, small business persons and farmers in the northwest region of Nicaragua.
SOSTENICA's program has five aspects:
1. Provide SOSTENICA's investors with the opportunity to use their funds to create social justice while preserving their principal and even earning nominal rates of interest.
2. Provide SOSTENICA/CEPRODEL's individual clients access to credit to meet the needs of their families.
3. Provide SOSTENICA/CEPRODEL's urban small business clients credit and technical assistance toward developing their businesses in the most financially and environmentally sustainable way possible.
4. Provide SOSTENICA/CEPRODEL's housing client’s access to credit to purchase and even participate in the construction of quality homes for their families.
5. Provide SOSTENICA/CEPRODEL's rural clients the opportunity to develop their farms financially while enriching the soil, water and other resources, thus preserving them for future generations.
SOSTENICA and CEPRODEL serve the urban and rural poor in the northwest region of Nicaragua.
Since the current form of the partnership began in 2001, SOSTENICA has made 25,487 loans for $14,196,715. 71.7% of these loans were to women. 18.2% of these loans were to rural farm families.
We have also provided $169,963 in grants for our technical assistance for environmental sustainability initiatives. Our current portfolio in Leon, El Sauce and Nagarote of $2,748,906 is providing permanent and temporary employment for over 2,000 Nicaraguans.
Francisco’s son Julio Cesar has, since youth, risen with the sun and hitched an oxen cart to fill four 50-gallon drums with water. This he did twice daily for as long as he can remember, spending four hours a day searching for water, which they had to buy. Then, with his first loan from SosteNica, Francisco dug a well that brings potable water to his family, waters his small herd and irrigates a 14-acre orchard. Full Story