Project Summary

Mexico - Nogales, Sonora Mexico [43] Encomun-Rotary Microcredit Project Simple Edit    Comprehensive Edit    Print TRF Application Project value: 75000 USD Funding sought: 20000 USD Project status: Active, seeking further funds Status Dates Date project entered into database: 2008-06-21 10:37:43

This is the second project.  The first was basically the same and was approved by TRF in 2009 for 42,000+ USD.

The project will make loans of US $100 to 800 to individuals in this Mexico-Arizona border city to help start new business or grow an existing business. The loans are for 4 month cycles. The borrowers form groups of 10 to 15 people. Their only collateral is solidarity within the groups. Everyone in a group must pay their loan or no-one in the group receives another loan. Loan installments are paid every two weeks. Borrowers must save 10% of their loan amount which is returned to them at the end of each cycle.

EnComun de la Fronterra provides basic business classes, business support and health care resources to help borrowers succeed. Encomun is a non-profit microcredit lending institution in Nogales Mexico.  They select applicants, provide training, establish loan groups, disperse and collect loans and assist clients clients to be successful in each loan cycle.  Encomun has been successfully operating since 2004. They have over 8,000 clients and have loaned over $8,000,000.  They have a 98% payback ratio.

We will make it possible for borrowers to improve the quality of life for their families without makeing the illegal and dangerous crossing to the U.S.

Primary Host Partner in the Project Country

Primary International Partner outside the Project Country