FODEMI

Overview

FODEMI is a nonprofit microfinance institution (MFI) in Ecuador that provides microcredit coupled with basic education including financial literacy budgeting and women s empowerment. The organization provides small affordable working capital loans to microentrepreneurs living in both semi urban and rural areas. The organization targets predominantly women living below the national poverty line that have been historically excluded from traditional financial markets. FODEMI is able to reach these women through its group lending methodology which promotes solidarity discourages delinquency and eliminates the need for borrowers to own collateral.