We support their businesses
Due to our commitment to assist the greater number possible of vulnerable people, this entities are growing at a fast pace, and so, we have young clients.
The granted amount of credit always comes from the client’s ability to refund and from his profitable activity once its viability is analysed. The granted amount increases quickly due to the client’s continuity: it is 50% higher among those clients who have been longer in the entity compared to those who have just been joined. This fact shows the intensified support given by the entity to the entrepreneur as he strengthens his relation with the entity and also according to the progress of his business.
Incomes are bigger in those clients who have been working longer with our entities. In the beginning, more than 35% of our clients have very low-incomes, but this percentage is reduced to 20% after some years in our entities.
65% of the clients who have been working in the entity for more than five years have incomes in the upper relative income brackets.
All products and services
We always work with regulated entities, and some of them are also supervised (those that take resources from the public).
According to IDB, «the microfinance entities that offer products to take deposits from people with low-incomes are a minority. The most part of the money saved up by low-income people is still kept away from institutions […]On the one hand because the most part of the microfinance entities’ clients still uses unofficial means of saving, such as buying animals or other physical goods. And on the other hand because microfinance entities which want to take savings must be regulated as well as under reasonable supervision. Becoming a regulated and supervised institution involves a complex process that requires time, resources, and implies a lot of changes in process and procedures. As a consequence, the incentives for saving are not available for many people and they are far away from being widespread in the region».