Financiera El Comercio
Financiera El Comercio is dedicated to helping all people and businesses, especially those with lower incomes, to access more and better financial services, therefore contributing to reducing Paraguay's poverty and affecting sustainable growth for its depositors, staff and shareholders.
Active Borrowers: 102,765
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Average First Loan: $1,343
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Amount Loaned: $25,745,000
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Active Savers: 37,263
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Active Portfolio: $137,965,000
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Savings Balance: $114,918
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Statistics as of February 2013
Background
Financiera El Comercio was founded in 1976. In 1998, it launched its first microfinance program.
Paraguay's economy relies heavily on agriculture and informal commercial activity, and the majority of the population is concentrated in the eastern region of the country. El Comercio works predominantly in the heavily-settled east and provides financial services to both rural and urban microentrepreneurs.
Accion has provided technical assistance services to El Comercio for improving organizational strength and reaching rural clients. Accion has completed several pilots with El Comercio, including a remittance and insurance product, a pre-paid card and a home improvement loan project.
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