ECLOF Ecuador is a small MFI registered as a foundation. From its office in Quito, 6 staff serve more than 1300 urban and rural micro businesses and smallholder farmers across Ecuador. 77% of all loans finance informal businesses. 37% of clients stem from indigenous communities of Inca descent.
Most agricultural clients are organized in farmer associations or agricultural cooperatives. ECLOF Ecuador lends to them through their cooperative structure, offering dedicated loan products that fit their income streams. ECLOF’s interest rate is at the lower end of the market; but more importantly, ECLOF offers access to loans to clients who have little or no tangible collateral. Besides giving out loans for micro business and agriculture, ECLOF trains clients on financial literacy, organic farming practices and gaining access to markets.
ECLOF Ecuador tracks client satisfaction and adheres to the client protection principles. Staff regularly benefits from professional training.