Fondo Esperanza | MFIs in Chile

Data provided through Fondo Esperanza

Gross Loan Portfolio USD, 2011: 20.2 million

Number of active borrowers 2011: 51,584

Average loan balance per borrower USD, 2011: 392.0

Deposits USD, 2011: 0.0

Assets USD, 2011: 24.7 million

Number of depositors 2011: 0

Mission:

Construir oportunidades de desarrollo para el mejoramiento continuo de las condiciones de vida de personas de los sectores más pobres de nuestro país, a través de la entrega eficiente de un servicio microfinanciero integral.

Background and Main Challenges:

Fondo Esperanza (FE) lucha por la superación de la pobreza y la disminución de las desigualdades sociales a través del desarrollo integral, que trae consigo el desarrollo sustentable en Chile. FE aspira a ser la institución líder de microfinanzas en Chile, ofreciendo servicios de excelencia para ... Read more

Address:

Arica 3829 Estación Central

Santiago

Chile

Phone:

(562) 778-9899

Fax:

(562) 778-9899

Email:

info [at] fondoesperanza [dot] cl

Website:

www.fondoesperanza.cl

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Training and Consulting

Services Provided:

Business Development Services

Education

Looking for (Investment Types):

Equity

Loans in Local Currency

Donations

% Operations Comprised by MF:

61 - 70

Date established:

Jan 1 1966

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Other target market:	1
Clients living in urban areas	2
Women	3
Int msg targetmothertext c	Trabajadores independientes, microempresarios de sectores vulnerables
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Gender equality and women's empowerment	3
+ Poverty targets
Very poor clients	1
Poor clients	1
+ Governance
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
Enterprise skills development	1
+ Education services offered
Financial literacy education	1
Other education services offered:	1
Int ps nonfinsvcedothertext c	Capacitación integral en Desarrollo del Negocio, Desarrollo Local, Familiar e Individual.
+ Health services offered
+ Women's empowerment services offered
Leadership training for women	1
Women's rights education/gender issues training	1
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Créditos de montos bajos, con pagos semanales y cuotas accesibles, con garantías solidarias bajo la metodología de Banco Comunal. Junto con el crédito, Educación Emprendedora y Promoción de redes sociales.
+ 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
Flat interest method
+ Social responsibility to staff
+ Human resources
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
Focalización, Indicadores de cumplimiento del servicio de Educación entregado.
+ Social responsibility to the environment
+ Poverty measurement tools in use
Per capita household income
Puntaje de la Ficha de Protección Social que aplica el Gobierno de Chile, y que mide vulnerabilidad considerando factores como: tenencia de vivienda, composición de la familia, previsión social y salud, entre otros.

Partnerships

Current
Name	Relationship
BBVA Microfinance Foundation	Network Affiliation
Kiva	Funding
Microfinanza Rating	Rating
RED PARA EL DESARROLLO DE LAS MICROFINANZAS DE CHILE	Network Affiliation