FIS - Empresa Social S.A. | MFIs in Argentina

Mission:

To provide microcredit services, on a broad scale and in a sustainable way, to the working poor in Argentina, in order to support their development and that of their communities. Generar y fortalecer relaciones crediticias duraderas con personas de trabajo para crecer juntos.

Background and Main Challenges:

Operating with two branches in rural areas (Santiago del Estero and Chaco) since 1999. Since September 2003 operating in Greater Buenos Aires, with two branches (Monte Grande and Lomas de Zamora). FIS also has the third urban branch placed in San Francisco Solano.

The main challenge ... Read more

Address:

Rivadavia 11618

Buenos Aires

Capital Federal

1408

Argentina

Phone:

(544) 642-5802 /6052

Fax:

(544) 642-5802 /6052

Email:

contacto [at] emprenda [dot] com [dot] ar

Website:

www.emprenda.com.ar

Main Funding Sources:

Grants

Loans

Shareholder Capital

Products and Services:

Loans

Insurance

Products:

Group loans.
Now introducing individual loans.
Also providing solar systems for household electricity in rural areas.

Looking for (Investment Types):

Loans in Local Currency

Donations

Guarantees

Capacity Building Grants

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Oct 1 1999

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
+ Development goals (ranked by importance)
+ Poverty targets
+ 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
Loans for agriculture
Housing loans
+ 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
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
Outreach to remote/rural communities
Quality of interaction with clients based on client feedback mechanisms
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
Dignity Fund, L.P.	Funding
Dignity Fund, L.P.	Funding
Intihuaca - BMM Argentina	Partner
Oikocredit	Funding
RADIM	Network Affiliation
Unitus	Network Affiliation

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FIS - Empresa Social S.A.

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