Pana Pana

Organization: Pana Pana                                 Location: Nicaragua                                       Co-Investor: Envest                                       Loan Disbursed: April 2014

Description: Pana Pana is a nonprofit civil association founded in 1990 in Nicaragua. The organization’s official name is Asociacion para el Desarrollo de la Costa Atlantica (Association for the Development of the Atlantic Coast) but they have always been known as Pana Pana which means “mutual help” in the local language.

Pana Pana aims to foster economic development mainly in the regions that were affected by revolutions and war. Pana Pana is located in the Region Autonoma del Atlántico Norte (RAAN), a semi-autonomous region in northeast Nicaragua that was particularly devastated during the war. The RAAN was remarkably cut off from the rest of Nicaragua until recently and has a very high indigenous population (90%, made up of Miskito, Mayangna and Creoles).  Pana Pana offers loans for commerce, housing, and a small number of agriculture loans. They also have a small social development unit that runs non-financial services. This includes technical assistance for housing loans and the development of a water and sanitation projects.

Pana Pana represents the first coinvestment with Envest. Envest is a microfinance cooperative that links socially and environmentally conscious individuals and institutions with the opportunity to support microfinance entrepreneurs in the developing world.  Envest targets the world's economically marginalized populations by lending primarily to small (Tier 3) microfinance institutions with assets under $10M.  Since being founded in 2006 and having started lending to MFIs in Latin America on December 10, 2007, Envest has partnered with 8 institutions in 6 countries (Peru, Nicaragua, Bolivia, Ecuador, Panama, Tajikistan). Microlumbia’s due diligence included financial and organizational reviews while on-site due diligence was conducted by Envest. 


Humo Partners

organization: humo Partners             Location: Dushanbe, Tajikistan           Co-investor: Envest                             Loan disbursed: April 2014 

Description: Humo Partners is a microfinance institution in Tajikistan that aims to support vulnerable and underserved populations living in rural areas through financial and consulting services for small businesses. The organization provides micro-credit loans to groups (29%) and individuals 971%) to help fund start-up businesses, enhance asset turnover, finance agricultural projects, and make processing and trade of agricultural products more affordable. Humo strives to makes sure all clients receive high-quality service, honesty, transparency and quick responses from staff no matter how large or small their businesses may be. New borrowers can typically access funds within three to seven days.  HUMO Partners was created in 2004 as a spin-off of the international NGO CARE. It operates in the western and northern regions of Tajikistan and is headquartered in the capital Dushanbe. As of Apr.13, HUMO had 23,949 borrowers and its loan portfolio amounted to 20 M USD.

Microlumbia worked with Envest to conduct due diligence.  Envest is a microfinance cooperative that links socially and environmentally conscious individuals and institutions with the opportunity to support microfinance entrepreneurs in the developing world.  Envest targets the world's economically marginalized populations by lending primarily to small (Tier 3) microfinance institutions with assets under $10M.  Since being founded in 2006 and having started lending to MFIs in Latin America on December 10, 2007, Envest has partnered with 8 institutions in 6 countries (Peru, Nicaragua, Bolivia, Ecuador, Panama, Tajikistan).  The Microlumbia team worked directly with Jon Bishop, founder. CEO and part owner of Envest, and Laura Dreese, part-time portfolio manager on due diligence.  The team also held a due diligence call with Firdavs Mayunusov, the CEO of HUMO Partners.