Sociedad Cooperativa PADECOMSM Credito de RL de CV

Mission:

Somos una entidad especializada en servicios microfinancieros accesibles, agiles y oportunos a la micro y pequeña empresa, con rentabilidad económica y responsabilidad social; contribuyendo asi a mejorar las condiciones de vida de nuestros clientes.

Background and Main Challenges:

La Socidad Cooperativa PADECOMSMCREDITO DE R.L DE C.V, tiene sus origenes de PADECOMSM (Patronato para el Desarrollo de las Comunidades de Morazan y San Miguel) como Programa de Creditos a micro y pequeños empresarios, PADECOMSM es una ONG que opera desde el año 1994 dedicada a la ejecucion de ... Read more

Address:

Avenida Presbítero Norberto Cruz, Barrio Soledad Casa Nº 11, San Francisco Gotera.

Morazán

El Salvador

Phone:

(503) 2668-8700

Fax:

(503) 2654-1934

Email:

jose_renderos [at] msn [dot] com

Website:

www.padecomsmcredito.com.sv

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Insurance

Looking for (Investment Types):

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1994

FYE:

31-Dec

Current Legal Status:

NBFI

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
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Increased access to financial services	1
Employment generation	1
Poverty reduction	1
Housing	2
Children's schooling	2
+ Poverty targets
Very poor clients
Poor clients
Low income clients
+ 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
Microcredit for household needs/consumption
SME loans
Loans for agriculture
Housing loans
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ 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
Flat interest method
+ 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
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution includes specific clauses in its loan contracts to mitigate specific environmental risks
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use