Mission: PRESTANIC [is] an institution of Christian commitment that provides financial services in an efficient and sustainable manner to rural and urban entrepreneurs and producers in micro, small, and medium economic units, building a relationship of trust with clients and contributing to their development.
Specialty: Rural Lending
Organization Profile: PRESTANIC was one of the first alternative credit programs created in Nicaragua. Formed in 1991 by CEPAD (the Nicaraguan Council of Protestant Churches), PRESTANIC became an independent non-profit organization in 1999. WCCN has been working with PRESTANIC since its inception.
PRESTANIC is a Christian institution committed to serving small producers and microentrepreneurs throughout Nicaragua. The organization has branches located in large cities like Matagalpa and Estelí, as well as the remote towns of Jalapa, Santo Tomás, Matiguás, and Quilalí, offering the same microcredit opportunity to all borrowers. PRESTANIC provides financial support through livestock, commerce, agriculture, and housing loans. Through this support poor borrowers are able to start and maintain small businesses, helping them work towards a better life.
NICA Fund Partner Since: 1991
Borrowers: Of PRESTANIC’s 11,591 borrowers, 46% are men and 54% are women (as of June 2007).
Lending Portfolio: PRESTANIC has an average loan size of $1,200 and maintains a total lending portfolio of $13,914,068. Of the portfolio, 77% is allocated to agriculture and livestock, 16% to commerce, small enterprise, and industry, 4% to housing, 2% to consumption, and 1% to services (as of June 2007).
