Opportunity Microfinance Romania

Gross Loan Portfolio USD, 2010: 13.1 million

Number of active borrowers 2010: 2,128

Average loan balance per borrower USD, 2010: 6,144.2

Deposits USD, 2010: 0.0

Assets USD, 2010: 16.9 million

Number of depositors 2010: 0

Mission:

To provide opportunities for people in financially disadvantaged situations to transform their lives.
Our Vision is to be the leading social purpose financial institutions in Romania.

Background and Main Challenges:

Opportunity Microcredit Romania is a non bank financial organization in the microfinance sector in Romania. OMRO is part of Opportunity International Network (OI, an international microfiance institution, who's sole purpose is to serve economically challend families with microfinance). OMRO has ... Read more

Address:

B-dul 1 Decembrie 1918, Nr. 183

Targu-Mures, Jud.Mures

540528

Romania

Phone:

(40 265) 263 644

Fax:

(40 265) 263 640

Email:

office [at] opportunity [dot] ro

Website:

www.opportunity.ro

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Training and Consulting

Looking for (Investment Types):

Equity

Loans in Local Currency

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Dec 1 2000

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in urban areas	1
Clients living in rural areas	2
+ Development goals (ranked by importance)
Growth of existing businesses	1
Employment generation	2
Poverty reduction	3
Increased access to financial services	4
+ Poverty targets
Low income clients
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
SME loans
Loans for agriculture
+ Savings products offered
+ Compulsory insurance products required
+ 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
+ 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.
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
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
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 raises clients' awareness about environmental impacts
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
EFSE	Funding
MFC	Network Affiliation
Microfinanza Rating	Rating
Oikocredit	Funding
Opportunity International	Network Affiliation

MFI Report