Social Performance Report: ECLOF Colombia
60% of clients reside in rural areas, 35% have only basic education and 74% do not own their home. 65% rely on the subsidized government health scheme. Most loans finance rural and agricultural businesses. But it is non-financial services where ECLOF stands out among the microfinance institutions in the market. During 2016, over 1000 clients benefited from ECLOF training and consulting on financial education, good agricultural and livestock practices, animal feeding, home gardening and organic fertilizers. As a result, clients use their loans effectively to grow their business or farm: Comparing numbers between first and second loans, ECLOF Colombia’s clients have generated 1702 jobs. 29% of all loans went to social purposes like home improvement and education.