Fondo de Microproyectos Costarricenses Sociedad Civil

Gross Loan Portfolio USD, 2010: 1.9 million

Number of active borrowers 2010: 440

Average loan balance per borrower USD, 2010: 4,375.7

Deposits USD, 2010: 0.0

Assets USD, 2010: 2.2 million

Number of depositors 2010: 0

Mission:

Crear condiciones para el mejoramiento de la calidad de vida de los sectores populares, vinculados a la micro y pequeña produccion, urbana y rural costarricense, mediante diversas oportunidades de financiamiento ágil y adecuado, que fortalezcan los procesos de la economía popular.

Background and Main Challenges:

1-Proceso mediante el cual se le puedan otorgar servicios financieros y no financieros al sector de la agriculutra orgánica. 2-Proceso para consolidar un grupo de mujeres en un emprendemiento de servicio , donde tiene que intervenir politicas estatales.

Address:

Localidad Barrio El Carmen de Paso Ancho, 600 sur de la Iglesia de San Cayetano. Cantón Central San Sebastián

San José

Costa Rica

Phone:

(506) 2227-9082

Fax:

(506) 2227-9014

Email:

fomicsc [at] racsa [dot] co [dot] cr

Website:

www.fomicsc.org

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Insurance

Training and Consulting

Services Provided:

Business Development Services

Health

Education

Other

Looking for (Investment Types):

Loans in Local Currency

Donations

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1989

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Mipymes	1
Women	2
Clients living in urban areas	3
Adolescents and youth (below 18)	4
Clients living in rural areas	5
+ Development goals (ranked by importance)
Poverty reduction	1
Employment generation	2
Gender equality and women's empowerment	3
Development of start-up enterprises	4
Growth of existing businesses	5
Youth opportunities	6
Increased access to financial services	7
Housing	8
Health improvement	9
Improvement of adult education	10
Water and sanitation	11
Children's schooling	12
+ 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
Loans for education
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
Voluntary credit life insurance
Voluntary house insurance
Seguro de incendio y vehículo
+ 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.
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
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
+ Social responsibility to the environment
This institution offers lending lines linked to alternative energies
+ Poverty measurement tools in use
Per capita household income
Own proxy poverty index

Partnerships

Current
Name	Relationship
Oikocredit	Funding
REDCAMIF	Network Affiliation
REDCOM	Network Affiliation

MFI Report