Grameen Foundation : Where we work : Latin America / Caribbean : Mexico : AlSol
AlSol
| Status snapshot as of March 2008 | |
| Active clients | 16,499 |
| Loan portfolio (USD) | $3,014,879 |
| Portfolio At Risk >30 days* | 0.5% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
AlSol operates in the highlands of Chiapas, the poorest region of Mexico. It was established in 1998 after the board chair, Pilar Garcia, and the former program director, Claudia Rovelo, spent a month in Bangladesh participating in a training session at Grameen Bank. AlSol’s mission is to provide the poorest women in Chiapas access to basic financial services to help them improve their standard of living. AlSol is committed to achieving financial sustainability and reaching an ever-increasing number of clients. The program defines itself as a learning organization that encourages innovation and discipline among its members and staff.
Outreach:
AlSol experienced a moderate early growth rate, reaching 300 clients in the first six months of operations (June to December, 1998). They reached 4,308 clients by June 2005 and 16,047 clients by December 2007. AlSol’s other goals are to have tighter controls, more streamlined processes, and a fully operational automated management information system (MIS).
Grameen Foundation support:
As of December 2007, Grameen Foundation had disbursed a total of 9 loans, totaling $1,078,100, to AlSol for operational and lending purposes. In 1999, AlSol became the first MFI to receive a loan from Grameen Foundation, following a grant to Graven Foundation from a retired Microsoft executive. Starting in 2003, a group of Dallas businesswomen under the leadership of Lucy Billingsley has spearheaded The Chiapas Project, a fund-raising campaign to support Grameen Foundation’s work in Chiapas. Grameen Foundation has also sponsored three AlSol staff to visit Fundación Adelante in Honduras to learn about their client training program. AlSol staff created a work program to implement an educational program in Chiapas modeled on Adelante’s. In addition, Grameen Foundation partnered with AlSol to assist them with implementing an automated management information system.
Grameen Foundation : Where we work : Latin America / Caribbean : Mexico : AlSol
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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