Background and Legal Framework
Experience in the regional market
The microfinance industry in the region has taken a course of uncertainty in light of events challenging business work within a sector specializing in crisis-tackling in all possible areas. From a political and social perspective, natural disasters and uprisings of forces and ideals that undoubtedly impact the lives of entrepreneurs who face these challenges day by day because “if you do not work, you do not eat”. Thousands and thousands of people within the micro and small business sector must solve their own fundamental needs, with the resources they have left to earn a living and that of those who make up their families, their home, their home, whether they are located in peri-urban areas, areas mined by outlaws who exploit them, extort them and even expropriate their business. They are also located in the slums, in sun-tying communities that steal their energy but that is not enough to take away their dreams, longings and hopes for a better life and thus reach the main goal, which should be no less than to lie down to sleep having generated at least the $3.0 daily that 60% of the customers that our microfinance entities attend in the Region.
Under the specialized demand for financial, technical and technical assistance services demanded by end customers and to the extent that efficiency and opportunity are part of SICSA’s value proposition in the provision of these services, through the support of the IDB LAB has managed to consolidate and professionalize a leading technology platform that empowers the entity to compete with a high degree of quality; accompanied by a team of highly trained and trained executives within the microfinance industry; accept the challenge and challenge led by a team of managers and shareholders articulating high-carat corporate governance; for those who make our greetings clear and effusive in the construction of a regional instrument, a reference for microfinance in Central America and the Caribbean.
The financial resources, skills and capabilities that have been made available to the microfinance sector has allowed to establish strategic alliances with recognized and leadership entities in the region, such as REDCAMIF the network that brings together the main networks of microfinance in this part of the continent, among which we highlight: REDIMIF, ASOMIF, ASOMI, REDPAMIF , REDCOM and REDMICROH. These alliances contribute to consolidating the strategic vision and business mission that must allow to carry out inclusion not only financial, but the inclusion of the affections that are generated in good lid for the development of the beloved Central American homeland.
Grateful for the trust that credit agencies have placed in SICSA’s business management, such as BlueOrchard in facilitating resources over the past 5 years for up to $4.0 Million. CORDAID is the entity from which we have received institutional and wealth support, non-reimbursable funds and which over the last 5 years has provided loans worth close to US$4.0 Million and which maintains a line of action and collaboration of great value for the objectives of SICSA.
We have succeeded in moving forward and taking a step forward in including entrepreneurs and entrepreneurs, men and women, patriots of the Central American nation who require an opportunity and also, although this involves high risk, we have included entities that in the financial field; they have not been able to access resources required to increase their credit offering to their own customers. We have a loan portfolio of more than US$10.0 Million, spread over 43 MFIs. In cumulative terms we have served nearly 80 MFIs in the region and about US$75.0M has been disbursed with declining loans and lines of credit with average amounts of US$300.0 thousand. WE ARE SICSA, WE ARE MICROFINANCE; And we’re here.
To my team, thank you for your dedication and total commitment in building a company consistent with the fulfillment of the strategic mission entrusted and the determined effort made available to SICSA. It is this unreserved delivery that must promote a microfinance industry in Central America worthy of better results and worthy of public recognition for the altruistic, supportive and visionary men and women that motivate “good work” in all its actions for the microfinance sector in the region.