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The credit activity of FondoMicro is directed primarily not to organizations government and cooperative of saving and credit that operate microfinanciamiento programs to the sector of the micro and small company.
The credits are granted under the modality of lines of credit effective reconductivas by one year and reviewable annually. The debts are orchestrated with short term, renewable notes and the interest rates are fixed during the validity of the notes.
The active interest rate is referred to the preferential rate of the bank market of Sacred Domingo's city and it oscillates according to the variations of the market. The clients of FondoMicro pay their interests monthly and, usually, the effective balances are renewed to expiration.
The organizations that you/they receive resources of FondoMicro provide credit to their clients according to the approaches and conditions settled down in each institution, without the injerencia of FondoMicro in the final destination of the resources.
CREDIT POLICYThe credit policy of FondoMicro is sustained in a group of dispositions that you/they should complete the institutions applicants, as well as in a clearly defined credit activity. In that sense, for an institution to be eligible for the obtaining of credit resources of FondoMicro should complete some minimum stipulations, such as being juridical people, with two years of experience in microfinanciamiento programs, with effective clientele, to provide credits free of subsidies regarding the market and to have an accounting system.
The work philosophy with the microfinanzas institutions has been based on the autosostenibilidad of this ongs as well as the credit to rates of having not bought subsidized, what implied a bigger efficiency in the handling of the resources. That has strengthened to the institutions at the moment being able to consent to the financial markets to get resources for their wallet of loans.
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