On November 18, MiCrédito and WCCN renewed their partnership. The alliance provides MiCrédito with a fund of US$ 350 000 to provide loans averaging US$ 800 to women head of households that are facing economic difficulties. The event was hosted by Verónica Herrera, MiCrédito’s CEO, and Gloria Cordón, WCCN's legal representative.
The objective of this financing project coincides clearly with the values of both WCCN and MiCrédito. It hopes to contribute to alleviating poverty and searching for ways to improve economic conditions in Latin America, particularly in Nicaragua, through facilitating access to credit, especially for women.
MiCrédito and WCCN have worked together on two other occasions to support clients in both rural and urban areas and the institutions are now working together to support women’s empowerment. Funds from WCCN allow MiCrédito to continue providing low interest rates to underprivileged clients.
Working Capital Community Needs (WCCN) is a non-profit organization based in Madison, Wisconsin that works to create opportunities for micro and small business owners and farmers in Latin America. The organization has been working in Nicaragua since 1984 and it focuses on micro credit, fair trade, housing projects and empowerment initiatives with the goal of reducing poverty in Latin America.