FINCA helps Ecuadorans living in poverty access financial services to improve the quality of life for themselves and their families.
$72M LOAN PORTFOLIO
$6,077 AVERAGE LOAN
54.1% WOMEN BORROWERS
1993 YEAR FOUNDED
Maria Lucia Potosi Ramirez is married and the mother of five children. She has spent her life knitting beautiful wool sweaters and selling them in the local market. “I’m so grateful because FINCA trusted me. Now I can improve my life and the life of my family.”
Individual Loans, Village Banking Loans, Small Group and Solidarity Loans, Savings, Insurance, Remittances and Money Transfer
Although Ecuador is an oil producing nation, about a fifth of the population lives below the national poverty line. The country has made significant strides in expanding its middle class, but endemic poverty in rural and indigenous communities means that many Ecuadorans depend upon informal businesses as their sole means of support.
In rural areas, access to land is unequal, with smallholder farmers owning a small percentage of the arable land. Many poor farming families also face the looming threat of earthquakes, tsunamis, volcanic eruptions, droughts and floods. Farmers have limited access to credit and financial services to help grow their businesses and weather natural disasters.
When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. Since 1993, FINCA has been helping thousands of Ecuadorans improve their lives. FINCA offers financial services, such as loans, savings and microinsurance throughout the country.
23.2% LIVING BELOW POVERTY LEVEL 2
$11,612 ANNUAL PER CAPITA INCOME 3
49% FINANCIALLY EXCLUDED 4
Avda. Amazonas N39-123 y José Arízaga
Edificio Amazonas Plaza, 9no. piso
1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution