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FONDESOL
ORGANIZATIONAL PROFILE: FONDESOL started as a Catholic Relief Services (CRS) project in 2002 with the objective of consolidating into one entity the different Guatemalan microfinance programs supported by the Catholic Church and CRS. By 2004 six organizations expressed interest in the initiative, and four ended up joining together to form the new organization. The organization was founded with the purpose of improving scale and efficiency, and FONDESOL’s goal is to provide high-quality financial services to the poor at lower prices than its main competitors.
FONDESOL's operations are focused on rural zones in some of the poorest areas in Guatemala, using village banks, solidarity groups and a recently introduced individual loan product.
| GP PARTNERSHIP DETAILS: |
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$250,000 loan through Global Partnerships Microfinance Fund 2006 |
ORGANIZATIONAL VITALS
| # of BORROWERS: |
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26,853 (as of 9/30/09) |
| OUTSTANDING GROSS LOAN PORTFOLIO: |
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$7,815,896 (as of 9/30/09) |
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