Servicios Financieros Alternativos S.A. de C.V., SOFIPO

Mission:

Promover el desarrollo económico y social en comunidades marginadas para mejorar la calidad de vida de sus integrantes.

Background and Main Challenges:

En cada localidad donde opere, impulsar programas de desarrollo integral en los campos de educación, salud, vivienda y medio ambiente.

Address:

Constitución No. 301, Col. Centro

Oaxaca de Juárez

Oaxaca

68000

Mexico

Phone:

(951) 516-7994

Fax:

(951) 516-8506

Email:

contacto [at] sefia [dot] com [dot] mx

Website:

www.sefia.com.mx

Main Funding Sources:

Loans

Products and Services:

Loans

Looking for (Investment Types):

Loans in Local Currency

Date established:

Sep 19 1997

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
+ Development goals (ranked by importance)
+ Poverty targets
Poor 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
+ Savings products offered
Voluntary savings accounts
Fixed term deposits
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Desde como crear el grupo y la forma de cómo debe de funcionar
+ Health services offered
+ Women's empowerment services offered
Fortalecimiento de los grupos comunales
+ 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
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to remote/rural communities
Quality of interaction with clients based on client feedback mechanisms
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
Prodesarrollo	Network Affiliation

MFI Report