Fondo de Inversiones para el Desarrollo de la Microempresa

Gross Loan Portfolio USD, 2011: 1.7 million

Number of active borrowers 2011: 3,198

Average loan balance per borrower USD, 2011: 528.5

Deposits USD, 2011: 0.0

Assets USD, 2011: 1.9 million

Number of depositors 2011: 0

Mission:

Promover el mejoramiento de las condiciones de vida de los microempresarios, los pequeños productores agrícolas, sus familias y comunidades ofreciéndoles servicios oportunos de financiamiento, asistencia técnica, capacitación y apoyo al mercadeo, que les permitan elevar sus niveles de ingresos, ... Read more

Address:

Av. San Martín No.11, esq. Bartolomé Colón,3er Nivel, Villa Consuelo

Santo Domingo

Dominican Republic

Phone:

(809) 221-0402

Fax:

(809) 221-8721

Email:

fime [at] verizon [dot] net [dot] do

Website:

www.fimeonline.org.do/

Main Funding Sources:

Préstamos

Donaciones

Products and Services:

Préstamos

Capacitación y consultoría

Seguros

Looking for (Investment Types):

Préstamos en moneda local

Garantías

Date established:

Mar 23 1994

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Women	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Poverty reduction	1
Employment generation	2
Increased access to financial services	3
Housing	4
Children's schooling	5
+ Poverty targets
Very poor clients
Poor clients
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
Loans for agriculture
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
Enterprise skills development
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Prestamos para Innovadores, Prestamos Agricolas. Microprestamos para remodelacion de vivienda. Prestamos a microempresas
+ 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.
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
+ 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
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts

+ Poverty measurement tools in use