Mission: We support the development of micro, small, and medium businesspeople through credit and management services, applying the best practices of the credit industry and business techniques.
Specialty: Lending to Women and Urban Areas
Organization Profile: León 2000 serves low-income Nicaraguan borrowers in West and North West Nicaragua. It has branches in the towns of León, Chinandega, Chichigalpa, Somotillo, El Sauce, Jinotepe, Masaya, and Nagarote. Through these branches, León 2000 provides credit in the form of commerce, services, housing, consumption, small industry, and livestock loans.
To allocate this credit, León 2000 uses a combined individual and group lending strategy, which allows it to reach some of the poorest within the communities they serve. Group lending is created through the formation of solidarity groups. These groups of four to eight members allow those who lack collateral to receive loans. Should any borrower experience a tough year, the solidarity group will vouch for the member, helping the individual repay the loan. Much of this group lending places a strong emphasis on providing credit to women, since it is mostly women who lack the collateral to back loans. Through this lending method, León 2000 makes an active effort to place money into the hands of women.
Additionally, León 2000 offers more than simply credit to its clients. It supplies technical and business training to microentrepreneurs, helping them to run more efficient and successful businesses. León 2000 also provides education classes to interested adults.
NICA Fund Partner Since: 2004
Borrowers: León 2000 serves 9,555 total borrowers. Of these individuals, 71% are women and 29% are men (as of June 2007).
Lending Portfolio: León 2000 has an average loan size of $567, with a total lending portfolio of $5,413,425. Of the portfolio, commerce, small enterprise, and industry receives 55%, services 21%, housing 12% and consumption 11%, and agriculture and livestock 1% (as of June 2007).
Website: http://www.fundacionleon2000.org
