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Women's World Banking- Bogota

Calle 36 Sur, No. 75C-28
Kennedy
Bogota
Columbia

Contact: Gerencia General, Executive Director (Gerencia General)
Phone: 011-57-1-621-8490
Fax: 011-57-1-621-7659
URL: www.womensworldbanking.org
Email: gerencia@cmmbogota.org
Women's World Banking- Bogota

Corporación Mundial de la Mujer Colombia (WWB-Bogotá) is a Microfinance Institution and affiliate of Women's World Banking whose mission is to contribute to increasing the assets of low income microentrepeneurs, with a major focus on women. The organization provides access to financial services that allow clients to grow and develop their businesses, increase their income and have opportunities for a higher standard of life.

Program

WWB-Bogotá makes individual, micro-level loans with repayment terms and plans tailored to the micro-entrepreneur's type of business. It uses simple procedures, flexible disbursements, personalized service and collateral based on the circumstances of the user. WWB-Bogotá also offers diverse financing methods based on the client's credit history. WWB-Bogotá provides:

Client Population

WWB-Bogotá has a head office and nine branch offices that provide financial and loan services to the low income population of Bogotá, Colombia and the surrounding metropolitan area. Of WWB-Bogotá's current 15,635 active borrowers, 78% are both women and low-income individuals. Nearly all borrowers live in major urban areas, defined as having a population of over 1 million, with only 3% living in rural areas. These borrowers primarily work in four main sectors of the economy: commerce and trade (53%), manufacturing and production (23%), service (21%) and agriculture and livestock (3%).

Impact

WWB-Bogotá has done a stellar job achieving their mission to create access to credit for low-income women in the informal sector of Bogotá. WWB-Bogotá had a portfolio of nearly US $4.8 million with 15,635 active borrowers with an average loan size of US$386. In addition, WWB-Bogotá has high efficiency levels with operational self-sufficiency at 140% and financial self-sufficiency at 117%. WWB-Bogotá's performance has consistently outperformed the corporate portfolios of commercial banks in the area, a fact that is particularly noteworthy given the recent financial troubles in Colombia. Today, WWB-Bogotá is the recognized leader in micro finance in its geographic area.


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