Economic Growth Mexico Project #7620

Microloans Help Poverty-Stricken in Mexico

by Opportunity International

Project Report | Aug 12, 2011
Entrepreneurs are Working their Way out of Poverty

By Jacqueline Ryan | Marketing Intern

Angela in front of her shop.

Through Opportunity International’s microfinance services, clients in Mexico are changing their lives.

Angela is 49 years old and sells clothing in her shop six days a year, all year, as she likes to have the latest fashion for every occasion. The last year of school Angela was able to attend was in elementary school. She is now married to Mario Olvera and together they have a daughter Lucia. Her family is always united and they enjoy working together.

Angela applied for, and was granted, a small loan to improve the quality of her products, as customers look for good clothing at accessible prices. Angela hopes that one day her business will become independent and provide the economic stability that her family deserves. She would like to keep working, and to plan a family vacation soon.

"With the amount of the loan I paid merchandise that I invested on Christmas season, which left me great profits, and I invested again on shoe and jewelry for my catalogue retails" said Angela. Angela plans to apply for another loan to invest in more seasonal products, continuing to improve her family’s quality of life.

Opportunity aims to reach more clients like Angela. To learn about similar clients working their way out of poverty visit www.opportunity.com/give/clients.

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May 18, 2011
Surpassing Goals in Mexico

By Olivia Schultz | Project Personnel

Client Marcelina Sanchez

As of December 31, 2010, Opportunity Mexico surpassed its target to reach 6,000 families by serving 6,259 active loan clients through three branches. In the past two years, Opportunity Mexico has been working hard to build its client base and reach more people with microfinance solutions to help them work their way out of poverty. Under the leadership of CEO Maria Clara Martinez, the institution has revamped its processes and increased its outreach by more than 27%, up from 4,907 loan clients one year ago. The team retained its 100% rate of operational sustainability during this time of significant growth.

Opportunity Mexico continues to improve its operational processes and expand its base in 2011, aiming to double loan client outreach. The institution will also launch individual loan products in June 2011 to provide qualified clients with training and loans geared toward established businesses. In 2010, Opportunity Mexico grew by establishing a partnership with the Youth Integration Center (a Mexican government entity) to provide clients with awareness training to prevent domestic violence and substance abuse. They also enhanced existing, and developing new, staff training modules to achieve its goal of standardizing all processes and provide its clients with consistent financial products and services, and exceptional customer care. Opportunity also conducted monthly loan officer training to enhance staff members’ skills and successfully instill clients with confidence, motivation and transformation within the Trust Group methodology. In addition, a partnership with Alpha International was established to provide all staff with foundational training in Christian principles. All the participants agreed that the training will positively impact their ability to be effective in their roles.

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