Congratulations to this week’s winner of the Raffle for Institutional Action Plan Submitters.
Established in 2009, Fundación SERVIGUA is a private not-for-profit institution (according to the governmental decree 241-2009) that works with rural populations in the north and west of Guatemala, in particular in El Quiché department, well-known for micro and small enterprises dedicated to advancing trading, manufacturing and agricultural activities.
The Foundation is currently serving rural areas in El Quiché in the six following municipalities: Chichicastenango, Santa Cruz del Quiché, San Pedro Jocopilas, San Antonio Ilotenango, Chiché, and Patzité. In these municipalities, the Foundation provides loans to men and women, totaling not more than approximately USD 1,500 per person, to be invested in trading activities, manufacturing, and service sectors.
On June 30, 2012, the portfolio balance reached GTQ 2,558,113 (approximately USD 320,465) with 183 active clients (27% women and 73% men). While the commercial sector represents the main activity with 86% of the current portfolio, the service sector represents 8% and the small-scale industries sector represents 6% of the total portfolio. In terms of credit methodology, the bulk of the portfolio is comprised of individual loans.
Without ignoring the fact that all microfinance institutions face various challenges, the financial arrears closed with a total portfolio of GTQ 127,765 (approximately USD 16,006), reflecting 5% of the current portfolio.