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Yes! I want to support microfinance and empower people to work their way out of poverty.
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Financiera El Comercio
President: Carlos A. Heisecke
Active Borrowers: 32,064
Active Portfolio: $52,190,000
Average Loan Balance: $1,628
Portfolio at Risk > 30 Days: 4.94%
Savers: 19,739
Savings Balance: $71,977,000
Statistics as of May 2010
Mission: With more than 25 years of experience in the marketplace, Financiera El Comercio provides a range of financial services with efficiency and ease. El Comercio strives to affect sustainable growth, the creation of new business possibilities as well as the fostering of responsibility, and to participate in the development of the community.
History: El Comercio was founded in 1976 and obtained its license as a regulated financial institution. In 1998, El Comercio launched its first microcredit program.
ACCION's Role: ACCION is providing technical assistance to El Comercio in developing strategies for improving organizational strength and penetrating rural markets.
Borrower Profile: Paraguay's economy relies heavily on agriculture and informal commercial activity, and the majority of the population is settled in the eastern region of the country. Financiera El Comercio works predominantly in the heavily-settled east and provides financial services to both rural and urban microentrepreneurs.
What's New: ACCION recently finalized a several pilots with El Comercio, including a remittance and insurance product, a pre-paid card (Te acercamos) and a housing improvement credit project.
Where They Work: El Comercio has 44 points of customer services between its headquarters, 7 branches in Asunción, and 23 rural branches in Campo 9, Carapegua, Ciudad del Este, Curuguaty, San Estanislao, San Ignacio, Encarnación and Katuete, Villarrica, Caaguazu, Concepción, Coronel Oviedo, Horqueta, Itacurubi del Rosario, Juan Elogio Estigarribia, María Auxiliadora, Pilar, Pedro Juan Caballero, San Ignacio, San Juan Nepomuceno, San Pedro, Santa Rita and Salto del Guairá and fourteen services centers.
Program Growth:
|
Year |
Active
Portfolio |
Amount
Loaned |
Active
Borrowers |
Average
Loan Balance |
|
2002 |
N/A |
N/A |
N/A |
N/A |
|
2003 |
$3,177,000 |
$5,474,000 |
6,144 |
$517 |
|
2004 |
$3,888,442 |
$7,427,864 |
6,995 |
$556 |
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2005 |
$7,021,288 |
$12,630,375 |
11,343 |
$619 |
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2006 |
$11,679,000 |
$19,491,000 |
19,088 |
$612 |
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2007 |
$20,900,000 |
$33,100,000 |
23,423 |
$890 |
|
2008 |
$34,380,000 |
$58,520,000 |
28,356 |
$1,212 |
|
2009 |
$56,208,000 |
$76,472,000 |
34,880 |
$1,611 |
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2010* |
$52,190,000 |
$34,222,000 |
32,064 |
$1,628 |
Contact Information:
Financiera El Comercio
15 de Agosto 121 Esq. Benjamin Constant
Asunción, PARAGUAY
Telephone: 595-21-418 8000
Fax: 595-21-443 -997
Email: info@elcomercio.com.py
Website: www.elcomercio.com.py
|  | After several loans allowing her to improve her milk production – “With the loan I got, I was able to buy more cows and produce more milk, and that way I have better incomes to support my family,” she said. “It’s very easy to work with El Comercio, they’re fast and I’m very pleased with the attention they provide me” Maria Del Rosario Mora
Client of ACCION affiliate Financiera El Comercio in Asunción, Paraguay
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