To achieve our objective, we are active in Calgary and elsewhere in sourcing charitable donations, grants and other types of funding so we can fund small microfinance institutions (MFIs) in Central America, like our MFI Partner ADIM, that in turn make small business loans available to poor women entrepreneurs to help them grow their businesses.
With increased incomes, these poor entrepreneurs are able to re-invest part of their profits in their businesses, but in addition, they are able to make small improvements to their homes, buy better clothing, food, and healthcare for their families, and pay school fees so that their children can stay in school.
Over the past year, we have designed a monthly reporting process that provides us with the financial and operating information that we need to ensure that our loans are safe while keeping our MFI Partner ADIM’s staff time involvement as low as possible.
We monitor the monthly performance of the loan portfolio associated with our funding of ADIM, as well as the total loan portfolio of ADIM. In addition, we monitor the overall financial performance of ADIM on a monthly basis.
Where we can, we make suggestions for improvements to ADIM business operations if we see areas that these can be made.
We try to be as flexible and creative as possible in obtaining funds for ADIM to lend to poor women entrepreneurs by simplifying our oversight structures (which gives us additional time to source donations and other funding) and seeking unusual types and sources of funding in Canada, Central America and elsewhere.
We are in weekly contact with Dr. Francisco Barquero, Advisor to our Board, and with ADIM’s General Manager and Manager of Finance and Administration.