Question 1

What is INFICSA?

Accepted Answer

INFICSA S.A. (Institución Financiera de Crédito S.A.) is a microfinance institution operating in Nicaragua. The institution is registered with the Comisión Nacional de Microfinanzas (CONAMI), Nicaragua's regulatory body for microfinance institutions. INFICSA specializes in providing microcredit and financial services to small businesses, microenterprises, and entrepreneurs who typically lack access to traditional banking services.

As a registered microfinance institution, INFICSA operates under the regulatory framework established by Law No. 769, the "Law for the Promotion and Regulation of Microfinance," which was approved in 2011 and reformed by Law No. 1168.

Question 2

When was INFICSA founded?

Accepted Answer

[Information not publicly available]

Question 3

Where is INFICSA headquartered?

Accepted Answer

INFICSA is headquartered in Managua, Nicaragua, specifically in the Portezuelo Industrial Park area. Historical records indicate the institution operated from Bodega 67-A in this location.

Question 4

Where does INFICSA operate?

Accepted Answer

INFICSA operates primarily in the Managua metropolitan area and surrounding regions of Nicaragua. As part of the broader Nicaraguan microfinance sector, the institution serves local communities where traditional banking infrastructure may be limited.

The microfinance sector in Nicaragua has established a national presence, with institutions collectively operating in approximately 67% of the country's municipalities, though INFICSA's specific geographic coverage is not publicly documented.

Question 5

What services does INFICSA offer?

Accepted Answer

INFICSA provides microfinance services focused on serving small-scale entrepreneurs and microenterprises. The institution's primary offerings include:

Microcredit Products: Small loans designed for working capital and business expansion for microenterprises and small commercial activities.

Collection Services: The institution employs field-based collection staff to maintain close relationships with borrowers and ensure responsible credit management.

As a CONAMI-registered institution, INFICSA is authorized to provide the full range of microfinance services permitted under Nicaraguan law, which may include term deposits from borrowers, bill discounting, and other financial services complementary to microcredit.

Question 6

What makes INFICSA unique?

Accepted Answer

INFICSA operates within Nicaragua's distinctive microfinance ecosystem, which has played a crucial role in filling the gap left by the decline of state development banking in the country. Several characteristics define the institution:

Regulatory Compliance: As a CONAMI-registered institution, INFICSA benefits from regulatory recognition, access to the Credit Risk Center, and the ability to set interest rates freely within legal parameters.

Focus on Underserved Sectors: The institution specifically targets microentrepreneurs and small business owners who typically fall outside the service range of traditional commercial banks.

Field-Based Approach: INFICSA employs a community-oriented collection and service model, maintaining direct contact with clients through field staff who visit borrowers regularly.

Question 7

What type of financial institution is INFICSA?

Accepted Answer

INFICSA is classified as an Institución de Microfinanzas (Microfinance Institution or IMF) under Nicaraguan financial regulations. Specifically, it operates as a non-bank financial institution dedicated to microfinance activities.

Under Nicaragua's Law No. 769 and its reforms, microfinance institutions are defined as commercial legal entities that primarily provide microcredit and complementary financial services using either their own or intermediated funds. These institutions are distinct from commercial banks and are subject to specialized regulation and supervision by CONAMI rather than the Superintendency of Banks (SIBOIF).

INFICSA meets the mandatory registration requirements for microfinance institutions, which include maintaining minimum capital requirements (at least C$7,700,000) and operating within the framework established for the formal microfinance sector in Nicaragua.

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About INFICSA in Nicaragua