Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, responsAbility Global Microfinance Fund loans USD 500,000 in the Nicaraguan based microfinance institution, Fundeser. Fundeser (Fundación para el Desarrollo Socioeconómico Rural) began as a credit and training program for small agricultural producers in Nicaragua in 1997 and became legally established as a non-governmental organization in 2000. According to the MIX Market, the microfinance clearing house, at the end of 2005, its gross loan portfolio equaled USD 4,294,195 and its total assets were USD 4,982,614. Its debt to equity ratio was 329.83%, its return on assets was 2.25% and its return on equity was 9.09%. In addition, as of December 2005, Fundeser had 7,244 active borrowers.
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