MFI ReportSocial Performance Profile
Partnerships
| Name | Relationship |
|---|---|
| Fundación Grameen Argentina | Network Affiliation |
Mission:
As a nonprofit without political or religious affiliations, the Lapacho Civil Association (Grameen Chaco) strives for only one goal: to give opportunity of self-improvement through microloans to those held victim to the region’s stagnant and strained economic climate. To better achieve this ... Read more
As a nonprofit without political or religious affiliations, the Lapacho Civil Association (Grameen Chaco) strives for only one goal: to give opportunity of self-improvement through microloans to those held victim to the region’s stagnant and strained economic climate. To better achieve this mission, the Lapacho Civil Association also provides non-financial services like workshops and seminars to improve the borrowers' knowledge and capacity to operate small businesses. Hide
Background and Main Challenges:
In 2001 the Lapacho Civil Associaton implemented Project Grameen Chaco and was officially recognized by Parliament as supportive of social development and poverty relief. In addition to microcredit products, the project provides numerous public education workshops and public spaces for community ... Read more
In 2001 the Lapacho Civil Associaton implemented Project Grameen Chaco and was officially recognized by Parliament as supportive of social development and poverty relief. In addition to microcredit products, the project provides numerous public education workshops and public spaces for community support groups to build self-esteem among women in dire poverty. As of 2009, the microcredit program bears the name of Project Grameen Chaco Maria Teresa Eller in recognition of her moral support, generous financial contributions, and continued loyalty for the organization
The Association’s five tenets of poverty relief are as follows:
1. Credit: Providing access to financial services to those excluded by traditional financial institutions. Such access to credit allows borrowers to finance small productive enterprises.
2. Saving: Access to savings accounts enables borrowers to attain stronger personal security by having funds for emergencies as well as providing for future capital and personal investment.
3. Training: Those who enter the Grameen financial system undertake administrative responsibility and learn accounting and financial practices helpful to their small enterprises. 4. Empowerment: Weekly group meetings and participation in administrative tasks work to improve the borrowers’ social network, build autonomy, demonstrate the importance of community, develop personal decision-making, and make better citizens.
5. Solidarity: Both within the functioning of the centers and in the daily working relationships among members the tenets of group harmony and camaraderie are rebuilt and impressed as integral for group advancement.
The main challenge our bank faces is acquiring the funds that are necessary to scale up. The bank is currently run by volunteers and is funded completely by donations. The National Commission of Microfinance (CO.NA.MI.) has been a huge supporter of the Lapacho Civil Association, but the donations it provide come with stipulations. While 30% of CO.NA.MI. funds can be used for operating expenses, the remaining 70% must be loaned out at a 6% annual interest rate. The percentage of funds earmarked for operating expenses and the interest rate charged are barely enough to keep up with inflation and cover all costs of operation. As such, achieving growth, hiring full time employees, investing in new technologies to increase efficiency, and reaching more borrowers is made nearly impossible. Thus, the bank is searching either for investors or donors who would acommodate an interest rate of around 20% being charged to the borrowers, a rate that would help us drastically improve our long term sustainability. Hide
The Association’s five tenets of poverty relief are as follows:
1. Credit: Providing access to financial services to those excluded by traditional financial institutions. Such access to credit allows borrowers to finance small productive enterprises.
2. Saving: Access to savings accounts enables borrowers to attain stronger personal security by having funds for emergencies as well as providing for future capital and personal investment.
3. Training: Those who enter the Grameen financial system undertake administrative responsibility and learn accounting and financial practices helpful to their small enterprises. 4. Empowerment: Weekly group meetings and participation in administrative tasks work to improve the borrowers’ social network, build autonomy, demonstrate the importance of community, develop personal decision-making, and make better citizens.
5. Solidarity: Both within the functioning of the centers and in the daily working relationships among members the tenets of group harmony and camaraderie are rebuilt and impressed as integral for group advancement.
The main challenge our bank faces is acquiring the funds that are necessary to scale up. The bank is currently run by volunteers and is funded completely by donations. The National Commission of Microfinance (CO.NA.MI.) has been a huge supporter of the Lapacho Civil Association, but the donations it provide come with stipulations. While 30% of CO.NA.MI. funds can be used for operating expenses, the remaining 70% must be loaned out at a 6% annual interest rate. The percentage of funds earmarked for operating expenses and the interest rate charged are barely enough to keep up with inflation and cover all costs of operation. As such, achieving growth, hiring full time employees, investing in new technologies to increase efficiency, and reaching more borrowers is made nearly impossible. Thus, the bank is searching either for investors or donors who would acommodate an interest rate of around 20% being charged to the borrowers, a rate that would help us drastically improve our long term sustainability. Hide
Address:
Marcelo T. de Alvear 240 2º Piso Of. 4
Resistencia
Chaco
3500
Argentina
Phone:
054-3722-444595
Email:
info [at] asociacion-lapacho [dot] com [dot] ar
Website:
Main Funding Sources:
Grants
Products and Services:
Loans
Voluntary Savings
Training and Consulting
Services Provided:
Education
Looking for (Investment Types):
Loans in Local Currency
Donations
% Operations Comprised by MF:
91 - 100
Date established:
Jun 1 2001
FYE:
30-Jun
Current Legal Status:
NGO
Regulated:
no
Partnerships
| Name | Relationship |
|---|---|
| Fundación Grameen Argentina | Network Affiliation |
At a glance
- Assets
- Gross Loan Portfolio
- Equity
Contacts
-
Antonio CabreraTesoreroinfo [at] asociacion-lapacho [dot] com [dot] ar054-3722-444595
-
Mabel MendietaPresidentaaclapacho [at] arnet [dot] com [dot] ar054-3722-444595
-
Olga Rosa JajamSecretariaaclapacho [at] arnet [dot] com [dot] ar054-3722-444595
