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Ecuadorian Partner Secures $600K Loan from MicroCredit Enterprises

The loan committee of MicroCredit Enterprises (MCE) has approved the second of two  disbursements for a total of $600,000 in loan funds to Fundación ESPOIR, Freedom from Hunger's partner in Ecuador.  The loan will expand Fundación ESPOIR's loan portfolio to reach more women. Approval of the second disbursement in July was contingent on Fundación ESPOIR's addressing client retention challenges by using market research to identify areas for improvement. Freedom from Hunger technical advisor Jennifer Shaw and research and evaluation specialist Bobbi Gray assisted Fundación ESPOIR with research design and analysis and action planning to implement findings regarding client satisfaction. Fundación ESPOIR, an Ecuador-based nonprofit microfinance organization formed in 1992 and serving 14,000 women clients, is a member of the board of directors of the Ecuadorian microfinance network RFR (Red Financiera Rural).

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