Fondi BESA

Gross Loan Portfolio USD, 2010: 42.3 million

Number of active borrowers 2010: 17,987

Average loan balance per borrower USD, 2010: 2,352.1

Deposits USD, 2010: 0.0

Assets USD, 2010: 53.5 million

Number of depositors 2010: 0

Mission:

The mission of Besafund j.s.c is to contribute in the country economical growth and poverty reduction in the urban and semi urban areas by promoting micro and small enterprise sector in Albania. BesaFund j.s.c will ensure also technical assistance for the entrepreneurs including qualification ... Read more

Background and Main Challenges:

Aiming to be present and support the development of our clients businesses in all market segments in focus of BesaFund j.s.c activity, we continue to further extend our activity in the existing area and by opening new offices.Actually BesaFund j.s.c operates in:13 branches and 44 offices

Address:

Rr.Barrikada VIII, Pall.5

Tirana

Albania

Phone:

355 0422 53841

Fax:

355 0422 53842

Email:

mfi [at] besa [dot] org [dot] al

Website:

www.fondibesa.com

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Products:

The main and only service that we provide is small loans to micro entrepreneurs.

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1998

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

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)
Increased access to financial services	1
Growth of existing businesses	2
Development of start-up enterprises	3
Poverty reduction	4
Employment generation	5
Youth opportunities	6
+ 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
SME loans
Loans for agriculture
Youth loans, specifically for young people who want to start a business
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
+ 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).
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)
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
Size of loan portfolio
+ Social responsibility to the environment
This institution offers lending lines linked to alternative energies
+ Poverty measurement tools in use