ACODEP, was created in 1990 in Nicaragua. It is a non-profit association that enjoys a strong network of 26 branches based in 12 regions of the country. Its main mission is to facilitate access to traditional sources of financing by men and women alike. This is done by offering integral financial services, which give them the opportunity to generate their own social and economical development.

Mrs. María Patricia Cajina & Giaconda Bermúdez, shopkeepers, beneficiaries of an ACODEP loan.

Mrs. Maria Patricia Cajina & Giaconda Bermúdez, 35 years old, married, 1 child
Solidarity group lending
Hometown : Masaya
Country : Nicaragua
Current loan amount : 2'3000 US $ (10th)
Business : Handcraft and woodwork sale
Experience : 14 years

In 1992, Mrs. María Patricia Cajina and Mrs. Giaconda Bermúdez decided to create a handcraft and woodwork stall. They contacted ACODEP, given that the institution was based near the Masaya market, where these two women used to sell their handcraft and woodwork. They therefore inquired at the institution regarding the possibilities of receiving a loan, and were granted a first loan which they used as working capital.

As times went on, their activity gradually increased and they used their loans to buy goods. Their main clients consist of Nicaraguayan expatriates and tourists visiting Masaya.

As a result, the profits gained have helped Mrs. María Patricia Cajina to renovate her house (kitchen and walls). In addition, this allows her still today to have some money saved at the bank. « Thanks God the sales increased : in one round we sometimes sell for C$ 4'000 pesos (233.50 US$); we also have the support of a young girl who helps us to sell when we aren't there or if we have too many clients », she says.

In addition, they have managed to get on well with ACODEP, especially when they have been late with their loan repayments. Indeed, they point out that ACODEP was very understanding in times of low sales.

Mrs. María Patricia Cajina believes that the opportunity offered by ACODEP, which granted them solidarity group loans, enabled them to progress and build confidence. She is very grateful towards ACODEP, which has given them the opportunity to improve themselves, to grow, to generate additional profits, to receive study grants and computer lessons, in order to use these skills in the context of their activity.
 
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