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SALTO - AID₁ considers that approximately 88.8% of all micro-entrepreneurs have not had their needs met by formal institutions in Ecuador. This represents around 702,000 families. A large percentage of these have fallen into the hands of moneylenders, who charge around 150% annual interest. Banco Solidario has been able to incorporate 134,072 micro entrepreneurs and their families, generating a saving of USD $ 161 million.

1. SALTO (USAID/Ecuador Project). Nacional Microenterprise Survey of Ecuador, Quito, 2004.

(z) Includes clients from MICROEMPRESA, OLLA DE ORO, VIVIENDA SOCIAL, EMIGRANTES, EL EFECTIVO.

Credit for those who need it most

• 37.2% of clients who receive loans live under the poverty line (monthly per capita income of USD 79).
• Clients have asserted that credit has enabled them to keep their source of income, even when the business has not yet grown enough.
• All our clients have been able to make a small surplus which helps them to cover their family expenses.
• Individual clients are able to make bigger profits, allowing them to create jobs within the concept of family-run business.
• Micro-entrepreneurs who already have employees show significant signs of managerial skills. Many of them pay on the basis of commission or volume of sales.
• In every case it can be seen that the loans are used for investment in production and/or in accumulation of assets.

* Results of the study carried out by Fundación Alternativa on IMPACT OF CREDIT, funded by the Spanish Technical Cooperation Agency.

Social Profitability Indicators

1. Poverty Reduction
• Credit: To those without access
  Credit vs. Usury
  161 million dollars a year which can be reinvested in the business, education, housing, health, etc
• Emigrants: Build for your return




Number of transfers	46,200
Saving from free transfers (for housing, micro-enterprise and savings)
Total amount	$6’023.137
Amount returned	$54.212
Instant Credit
Number of operations by emigrants and their families	1.631

• Housing: Houses for those without access
• 4,605 houses handed over in Ecuador and 110 from Spain
• Annual amount saved on rent: $8,289, 000 (at a reference rate of $150 a month)
• Convivir, a community organization and development program: 2,300 families involved.
2. Vivir Solidario
• Number of employees committed to the philosophy of Vivir Solidario: 649 persons
• Percentage of employees committed to this philosophy: 87,92% (Labor climate research 2003).
• Measurement of aspects of their lives:




Indicator	% totally or generally in agreement (base year 2003)
"Compartiendo con la familia" program	88%
Commitment to my job and its contribution to the Bank’s mission	79%
Would recommend the Bank as an ideal place to work	59%
Salary and benefits are fair	92%