Fundación de Ayuda Microempresarial

Data provided through RFR

Gross Loan Portfolio USD, 2011: 2.0 million

Number of active borrowers 2011: 2,437

Average loan balance per borrower USD, 2011: 813.4

Deposits USD, 2011: 0.0

Assets USD, 2011: 2.8 million

Number of depositors 2011: 0

Mission:

"Promover el desarrollo de la Microempresa en el Ecuador, priviligiando a los sectores urbanos, urbano-marginales y rurales, de manera eficiente, competitiva y con calidad de atención; promoviendo las iniciativas de apoyo mutuo, bajo un enfoque de equidad, género y desarrollo local sustentable"

Background and Main Challenges:

Somos una Fundación que fomenta el desarrollo de la microempresa y la organización de los pequeños productores del Ecuador, impulsando programas de servicios de educación, asistencia técnica y crédito, sustentados por la investigación y planificación en el marco de la economía popular y solidaria. Read more

Address:

Av. 12 de octubre y Queseras del Medio 1842, Edf. Guimissa, 2º piso, ofc. 203

Quito

Pichincha

17 079638

Ecuador

Phone:

(593) 250-9949

Fax:

(593) 290-3834

Email:

fundamic [at] andinanet [dot] net

Website:

www.fundamic.org

Main Funding Sources:

Grants

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Insurance

Services Provided:

Business Development Services

Looking for (Investment Types):

Guarantees

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 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
Clients living in urban areas	2
Women	3
+ Development goals (ranked by importance)
Poverty reduction	1
Employment generation	2
Improvement of adult education	3
Youth opportunities	4
Growth of existing businesses	5
Increased access to financial services	6
Gender equality and women's empowerment	7
+ Poverty targets
Low income clients	1
+ 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	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
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
Leadership training for women	1
Counseling/legal services for female victims of violence	1
+ Products and services targeting 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).
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)
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