ENLACE - Servicios Financieros S.A de C.V.

Data provided through ENLACE

Gross Loan Portfolio USD, 2011: 11.9 million

Number of active borrowers 2011: 35,185

Average loan balance per borrower USD, 2011: 338.2

Deposits USD, 2011: 0.0

Assets USD, 2011: 12.7 million

Number of depositors 2011: 0

Mission:

Contribuir a mejorar la calidad de vida del sector Microempresa, brindando servicios financieros especializados.

Background and Main Challenges:

Somos una Sociedad dedicada a los servicios microfinancieros destinados a las poblaciones de menores ingresos, nuestro principal desafío hacia el mediano plazo es llevar nuestros servicios crediticios a otras zonas del país donde actualmente no tenemos presencia, para lo cual el presente año ... Read more

Address:

5ta. Ave. Norte y Calle Jose Ciriaco Lopez No. 4-1

Santa Tecla

La Libertad

El Salvador

Phone:

(503) 2229-4955 / 2229-4953

Fax:

(503) 2288-0096

Email:

jcelias [at] enlace [dot] com [dot] sv

Website:

www.enlacemicrofinanzas.com/

Main Funding Sources:

Loans

Shareholder Capital

Products and Services:

Loans

Looking for (Investment Types):

Loans in Local Currency

Donations

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1998

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	2
Clients living in urban areas	3
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Gender equality and women's empowerment	3
Youth opportunities	4
+ Poverty targets
Very poor clients	1
Poor clients	1
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
Microcredit for household needs/consumption	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
Enterprise skills development	1
+ 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:	Banca Comunitaria
+ 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.
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)
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