Asociación El Balsamo | MFIs in El Salvador

Data provided through Asociación El Balsamo

Gross Loan Portfolio USD, 2011: 399,365.0

Number of active borrowers 2011: 1,538

Average loan balance per borrower USD, 2011: 259.7

Deposits USD, 2011: 0.0

Assets USD, 2011: 826,242.0

Number of depositors 2011: 0

Mission:

Asociación El Balsamo trabaja para el desarrollo integral comunitario promoviendo redes microempresariales autogestora con protección ambiental y equidad de género, brindando servicios técnicos y financieros oportunos y de calidad a la población sujeto de su quehacer institucional.

Background and Main Challenges:

Asociacion El Bálsamo fue creada en noviembre de 1990, en respuesta a solicitudes planteadas por diversas comunidades de desplazamiento y otras victimas del conflicto que vivio El Salvador, en los departamentos de San Salvador, Usulutan, Cuscatlan, Cabañas y Morazan. El desafio principal es ... Read more

Address:

Residencial San Luis, Calle principal y avenida 4, Block "1" casa No. 3

San Salvador

El Salvador

Phone:

(503) 2274-7721

Fax:

(503) 2274-6913

Email:

balsamo [at] amnetsal [dot] com

Website:

www.asociacionelbalsamo.org

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Insurance

Services Provided:

Full-scale Financial Services

Business Development Services

Education

Looking for (Investment Types):

Equity

Donations

Date established:

Jan 1 2000

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	1
Clients living in urban areas	2
Adolescents and youth (below 18)	2
+ Development goals (ranked by importance)
Health improvement	1
Water and sanitation	1
Children's schooling	1
Gender equality and women's empowerment	1
Youth opportunities	1
Poverty reduction	1
Development of start-up enterprises	1
Increased access to financial services	2
Housing	2
Growth of existing businesses	3
+ Poverty targets
Poor clients	1
Low income clients	1
+ 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	1
Loans for agriculture	1
Housing loans	1
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance	1
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
Other enterprise services offered:	1
Int ps nonfinsvcenterpriseothertext c	Programas de desarrollo microempresarial y comunitario; programa de proteccion ambiental y produccion agroecologica
+ Education services offered
Financial literacy education	1
+ Health services offered
+ Women's empowerment services offered
Leadership training for women	1
Women's rights education/gender issues training	1
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Cursos de elaboracion de medicina natural, siembra y procesamiento de añil para el teñido de ropa. Elaboracion de productos de Bisuteria, y fortalecimiento a la red de alfareros.
+ 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).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
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
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
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
Outreach to women
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution trains/educates clients regarding environmental improvements
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use
Food security index

Partnerships

Current
Name	Relationship
ASOMI	Network Affiliation
FUNDAMICRO	Vendor
REDCAMIF	Network Affiliation

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