New Loans from MicroCredit Enterprises Expand Portfolios in the Andes
MicroCredit Enterprises (MCE) has strengthened the loan portfolios of two of Freedom from Hunger's key Andean partners with funds that will ensure more women are able to borrow and the programs can grow. In the first case, the loan committee of MCE approved the second tranche ($300,000) of a $600,000 loan to Fundación ESPOIR in Ecuador. In order to access this loan, Fundación ESPOIR did market research to better understand client turnover and submitted an analysis and action plan to address these issues to the satisfaction of MCE. In a second move, MCE's loan committee approved and disbursed an additional loan of $300,000 to add to the $700,000 loan already in place for Crédito con Educación Rural (CRECER), our partner in Bolivia. CRECER earned the additional loan by impressing MCE's loan committee with its consistent performance and sound management and governance-even in the face of political uncertainties at the country level.