Working Capital for Community Needs Incorporated (WCCN), a nonprofit organization that organizes financial partnerships among individuals and organizations in Latin America and the US, recently reported to MicroCapital that it made debt investments totaling USD 902,000 to the following organizations: USD 400,000 to Fundación de Apoyo Comunitario y Social del Ecuador (FACES), an Ecuadorian microfinance institution (MFI); USD 370,600 to Federación Regional de Asociaciones de Pequeños Cafetaleros Ecológicos del Sur del Ecuador (FAPECAFES), a coffee cooperative in Ecuador; and USD 131,600 to Asociación de Productores Agropecuarios del Valle Alto Mayo (APAVAM), a coffee cooperative in Peru.
FACES is an NGO founded in Ecuador to develop microenterprises through the provision of customized financial services. In 2009, it reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 3 million, a gross loan portfolio of USD 2.9 million and approximately 3,900 borrowers.
FAPECAFES is a coffee cooperative owned and operated by approximately 1,200 coffee farmer families in Ecuador. In 2003, FAPECAFES received its fair trade and organic certifications and began expanding its markets into the US, Canada and Europe.
APAVAM is a coffee cooperative that provides training and access to international fair trade markets for 518 families. The families of the association live and farm organically in Alto Mayo Valley in eastern Peru.
By Carol Kim, Research Associate
About Working Capital for Community Needs Incorporated (WCCN): WCCN partners with individuals and organizations in Latin America and the US with the aim of building sustainable economic opportunities that help people work their way out of poverty. WCCN provides low-income Latin American entrepreneurs and small farmers access to finance. WCCN also promotes fair trade, women’s empowerment and housing improvement initiatives and fosters greater understanding, goodwill and peace by exchanging visits. For 2010, WCCN reported total assets of USD 11.2 million in its audited financial statements.
About Fundación de Apoyo Comunitario y Social del Ecuador (FACES): FACES is a nongovernmental organization (NGO) that was established in 1991 in Ecuador. The organization’s mission is to combat poverty and unemployment in rural and urban communities by promoting the development of microenterprises through the provision of customized financial services. In 2009, FACES reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 3 million, a gross loan portfolio of USD 2.9 million, approximately 3,900 borrowers, return on assets (ROA) of 7.2 percent and return on equity (ROE) of 11 percent.
Sources and Additional Resources:
WCCN Announcement sent to MicroCapital, July 2011
MicroCapital.org: “MICROCAPITAL BRIEF: responsAbility Social Investments Loans Total of $5.8m to Banco Solidaro of Ecuador, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Edpyme Alternativa of Peru, Apoyo Integral of El Salvador”, February 25, 2011, https://www.microcapital.org/microcapital-brief-responsability-social-investments-loans-total-of-5-8m-to-banco-solidaro-of-ecuador-fundacion-de-apoyo-comunitario-y-social-del-ecuador-faces-of-ecuador-edpyme-alternativa-of/
MicroCapital.org: “KNOW A MICROFINANCE ORGANIZATION: Working Capital for Community Needs (WCCN)”, January 29, 2010, https://www.microcapital.org/know-a-microfinance-organization-working-capital-for-community-needs-wccn/
MicroCapital’s Universe Profile: Working Capital for Community Needs (WCCN), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Working+Capital+for+Community+Needs
MicroCapital’s Universe Profile: Fundación de Apoyo Comunitario y Social del Ecuador (FACES), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fundacion+de+Apoyo+Comunitario+y+Social+del+Ecuador+(FACES)
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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