Mission: To provide financial services to the micro-entrepreneurial women of Nicaragua through our work, with the purpose of contributing to their growth and economic independence.
Specialty: Lending to Women
Organization Profile: FODEM began as a small organization, formed in eastern Managua in 2000. This microfinance institution has now expanded to reach women in both the East and West Markets of Managua, as well as several of the surrounding towns. FODEM’s mission is to promote women’s access to economic resources such as credit. This financial assistance is provided primarily through commerce, agricultural, and housing loans.
Not only does FODEM provide credit, but they also facilitate access for women to other important resources. FODEM educates women on civil rights, domestic violence, and business development. The organization is also involved in the community, financially supporting the construction of new houses for women in poor neighborhoods of Managua. Oftentimes, the women in Nicaragua are overlooked and discriminated against. FODEM tries hard to allow these poor women the chance to live a life of hope, equality, and financial independence.
NICA Fund Partner Since: 2002
Borrowers: FODEM provides loans to 7,995 clients, 92% of whom are women and 8% men (as of June 2007).
Lending Portfolio: The average loan size for FODEM is $574, with a total lending portfolio equaling $4,586,345. Of this portfolio, 54% goes towards commerce, small enterprise, and industry, 18% for agriculture and livestock, 11% for housing, 10% for services, and 7% for consumption (as of June 2007).
Website: http://www.fodem.org.ni/
