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Yes! I want to support microfinance and empower people to work their way out of poverty.
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Finsol
(Financiera Solidaria S.A.)
President: Ismael Oliva
Active Borrowers: 7,464
Active Portfolio: $26,303,000
Average Loan Balance: $3,524
Portfolio at Risk > 30 Days: 8.02%
Savers: 31,948
Savings Balance: $8,743,000
Statistics as of May 2010
Mission:
The first regulated microfinance institution in Honduras, Finsol is dedicated to providing access to credit and other financial services, and to dramatically expanding access to microloans throughout the country.
History: In June 1999, a group of private investors established Finsol as Honduras' first private microfinance institution. The microlending portfolio of FUNADEH, a Honduran nonprofit, was transferred to the newly created Finsol.
ACCION's Role: ACCION provided assistance to Finsol through a resident advisor from 2001–2002, focused on making improvements to its credit methodology. Finsol is currently an active member of the ACCION Network, the organization that brings together the world’s leading microfinance institutions to collaboratively create, grow and lead the microfinance industry.
Borrower Profile: Honduras has a population of 5.7 million, many of whom are poor. Finsol has an opportunity to meet the demand for microcredit among the 58 percent of the population involved in agriculture and the 42 percent working in the service and industry sector.
Where They Work: San Pedro Sula, Tegucigalpa, Comayagua, La Ceiba, Olanchito, Tocoa, El Progreso. Regional Headquarters are located in San Pedro Sula.
Program Growth:
|
Year |
Active
Portfolio |
Amount
Loaned |
Active
Borrowers |
Average Loan Balance |
|
2002 |
$6,408,000 |
$13,640,000 |
11,051 |
n/a |
|
2003 |
$8,292,000 |
$13,621,000 |
14,048 |
n/a |
|
2004 |
$11,273,639 |
$21,460,429 |
15,400 |
n/a |
|
2005 |
$15,839,372 |
$25,976,179 |
17,213 |
n/a |
|
2006 |
$23,996,000 |
$34,146,000 |
20,421 |
n/a |
|
2007 |
$29,500,000 |
$39,900,000 |
24,942 |
n/a |
|
2008 |
$27,157,000 |
$30,807,000 |
19,537 |
$1,390 |
|
2009 |
$23,988,000 |
$19,759,000 |
8,129 |
$2,016 |
|
2010* |
$26,303,000 |
$7,968,000 |
7,464 |
$3,524 |
* Statistics as of May 2010
Contact Information:
Finsol
Av. Junior 5 y 6 Calles N.E.
Edificio 504
San Pedro Sula
HONDURAS
Tel: (504) 550-8320, 550-8316, 550-8318
Fax: (504) 550-8322
Email: fmadrid@finsolhn.com
Website: www.finsolhn.com
|  | ACCION and its partner microfinance institutions are experimenting with applying the lessons learned from successful microenterprise lending programs to make housing finance affordable and accessible for poor households.
Elena Cubas
Client of ACCION partner Bancovelo in Honduras |  |
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