Fondo de Desarrollo Microempresarial

Gross Loan Portfolio USD, 2010: 16.6 million

Number of active borrowers 2010: 31,967

Average loan balance per borrower USD, 2010: 519.0

Deposits USD, 2010: 2.3 million

Assets USD, 2010: 17.3 million

Number of depositors 2010: —

Mission:

Fomentar el desarrollo microempresarial y el mejoramiento de la calidad de vida de nuestros clientes y sus familias a través de la prestación de servicios financieros y no financieros, en base a nuestros valores cristianos y con el respaldo de Visión Mundial, nuestro socio estratégico.

Background and Main Challenges:

Nuestra visión para cada niño y niña, vida en toda su plenitud; nuestra oración para cada corazón, la voluntad para hacer esto posible.

Address:

AV. Jaime Rivadeneira 688 y Av. Mariano Acosta

Ibarra

Imbabura

Ecuador

Phone:

593 6 2641-893

Fax:

593 6 2062-953

Email:

fodemi_iba [at] andinanet [dot] net

Website:

www.fodemi.org

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Insurance

Training and Consulting

Services Provided:

Other

Looking for (Investment Types):

Loans in Local Currency

Capacity-Building Grants

Donations

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

May 15 1995

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Women	2
Adolescents and youth (below 18)	3
Clients living in urban areas	4
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Employment generation	3
Gender equality and women's empowerment	4
Growth of existing businesses	5
Youth opportunities	6
Improvement of adult education	7
Development of start-up enterprises	8
Children's schooling	9
Health improvement	10
Water and sanitation	11
Housing	12
+ 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
+ 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
+ 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:
+ 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).
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
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
+ Social responsibility to the environment
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)