Microfinanzas del Uruguay S.A.

Data provided through Microfin Uruguay

Gross Loan Portfolio USD, 2011: 7.3 million

Number of active borrowers 2011: 2,113

Average loan balance per borrower USD, 2011: 3,466.3

Deposits USD, 2011: 0.0

Assets USD, 2011: 11.9 million

Number of depositors 2011: 0

Mission:

Contribuir de forma eficiente a la inclusión y crecimiento de las micro y pequeñas empresas, y de las familias, a través de servicios financieros oportunos e innovadores.

Background and Main Challenges:

Los principales desafíos que enfrenta Microfin es el desarrollo de la actividad de Microfinanzas en un mercado muy poco desarrollado, incorporando las mejores prácticas a través de la participación en el accionariado del Grupo ACP y de los Organismos Multilaterales CAF y FOMIN/BID.

Address:

Asilo 3095 Centenario y Luis de Herrera Avisadores de Montevideo

Montevideo

CP 11600

Uruguay

Phone:

(598) 248-02000

Fax:

(598) 248-02000 x103

Email:

microfin [at] microfin [dot] com [dot] uy

Website:

www.microfin.com.uy

Main Funding Sources:

Préstamos

Capital accionario

Products and Services:

Préstamos

Servicios financieros

Seguros

Arrendamiento

Services Provided:

Servicios financieros en gran escala

Looking for (Investment Types):

Préstamos en moneda local

Donaciones

Garantías

Donaciones para crear capacidad

% Operations Comprised by MF:

91 - 100

Date established:

Mar 6 2008

FYE:

31-Dec

Current Legal Status:

Other

Regulated:

true

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
+ Development goals (ranked by importance)
+ Poverty targets
Low income clients	1
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
Microcredit for household needs/consumption	1
SME loans
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance	1
+ Voluntary insurance products offered
Voluntary life insurance	1
+ Other financial products and services offered
Microleasing	1
+ 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:	Microfin desarrolló un Indice de Inclusión financiera y un Indice de Inclusión Social
+ 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.
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
+ 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
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use