ACTUAR Famiempresas - Tolima | MFIs in Colombia

Gross Loan Portfolio USD, 2010: 4.9 million

Number of active borrowers 2010: 7,727

Average loan balance per borrower USD, 2010: 638.1

Deposits USD, 2010: 0.0

Assets USD, 2010: 5.9 million

Number of depositors 2010: 0

Mission:

ACTUAR Tolima's mission is to provide technical assistance and financial services to microentrepreneurs without access to formal financial services.

Background and Main Challenges:

ACTUAR Tolima is an NGO created in 1986 by the private sector. Their main objective is to achieve a social equilibrium by decreasing unemployment and violence. ACTUAR Tolima has received loans from the Interamerican Development Bank and many other institutions underlining the excellent quality ... Read more

Address:

Calle 18 6-16

Ibagué

Colombia

Phone:

(578) 261-6640

Fax:

(578) 263-6423

Email:

actuartolima [at] actuartolima [dot] com

Website:

www.actuartolima.com

Main Funding Sources:

Préstamos

Products and Services:

Préstamos

Capacitación y consultoría

Seguros

Products:

ACTUAR Tolima offers technical assistance and financial services to microentrepreneurs.

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1986

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in urban areas	1
Women	2
Clients living in rural areas	3
+ Development goals (ranked by importance)
Growth of existing businesses	1
Increased access to financial services	2
Employment generation	3
Poverty reduction	4
+ Poverty targets
Low income clients
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
Loans for education
Housing loans
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Educación no formal
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Flat interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use