FINCA Guatemala was founded in 1997 as part of what was going to be one of the biggest Microfinance entities in the world.
FINCA Guatemala Milestones
FINCA Guatemala foundationFINCA Guatemala opened the first branch in the town of Villanueva where Village Banking loans were offered to women, only.
Expanding Our Network Coverage in the CountryAs the demand for FINCA loans grew, so did the number of branches in the country. By the end of this year offices were opened in Escuintla, Jutiapa, Jalapa, Zacapa, Chiquimula among some other in the capital city. The number of clients served at this point in time was in excess of 14,000.
Changes in the Business ModelThis was the year major changes were made in the institution, all of which led to service quality improvements. Individual Loans were added as our second product and loans were no longer offered exclusively to women. Also, cashiers were available to disburse loans at every branch.
The Evolution ContinuesIn response to improvements in the financial wellbeing of many clients, FINCA Guatemala developed new product offerings. SME (Small Enterprise) Loans were introduced to offer the best financing solutions to business people. Mobile Banking was introduced in order to provide convenient payment options to our clients, many of whom operate in remote areas.
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