Microfinance Launch Experiences Huge Demand
Punta de Mita non-profit, PEACE, has launched ˇSe Mas! (Be More!) a microfinance organization that provides capital and business development skills to local microenterprises in order to boost and keep clients out of poverty.
- (1888PressRelease) July 29, 2010 - Punta de Mita, Nay.- Local entrepreneurs have quickly seized a bright opportunity to improve their businesses and better their lives. Over 200 individuals from around the Bahia de Banderas applied for loans through ˇSé Más! a newly-launched microfinance organization.
For the past two years, Punta de Mita non-profit, PEACE, has been developing ˇSé Más! (Be More!) to provide capital and business development skills to local microenterprises. ˇSé Más! offers a full suite of financial services that responds to the needs of low income families and acts as a catalyst to boost and keep clients out of poverty, providing them with a better quality of life over the long term.
Loan recipients participate in financial literacy training and weekly business development meetings with their loan officer. Small loan sizes range from $1,000-$5,000 pesos and are distributed to lending groups at a 3% monthly interest rate for on-time payment.
"This rate is a fraction of what is charged by other local microfinance organizations and loan sharks in the area," said Mar Moller, Credit Advisor for ˇSé Más! "Entrepreneurs have found the opportunity they've been waiting for. I'm not surprised by the high demand."
Team members of ˇSé Más! include Moller, a native of Bucerias, Pablo Lubbert creator of the ˇSé Más! information management system, originally from Chile, and Florencia Mora, an Argentinean native with a psychologist and banking background, who is focused on creating a financial literacy curriculum and a survey to monitor social impact. Additionally, a pro bono consulting team from Columbia Business School is providing research regarding insurance and individual loans.
The team is relying on donations to distribute initial loans and meet their high demand. To donate to ˇSé Más! contact Molly Fisher at Molly.Fisher ( @ ) semasmicrofinanzas dot com dot To apply for a loan, contact Mar Moller, Credit Adviser at Mar dot Moller ( @ ) semasmicrofinanzas dot com dot To become a volunteer or intern with ˇSé Más! contact Melissa Floca, Board Member !Sé Más! at Melissa dot floca ( @ ) semasmicrofinanzas dot com
For more information contact:
Becci Burchett
PEACE Mexico
Becci ( @ ) peacemexico dot org
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