Fundación de Apoyo Comunitario y Social del Ecuador, also called FACES, is a NGO which was set up in 1991. Its mission is to support micro-entrepreneurs with microloans. FACES is a non-regulated institution, but self-regulated according to the same guidelines. FACES has been contributing to social and economic improvement in the southern (Loja, Zamora Chinchipe and El Oro) and northern (Pichincha) regions of the country since inception. Its main office is in the city of Loja, the provincial capital of Loja.
General information
| Borrower | FUNDACION FACES |
| Country | Ecuador |
| Head office | LOJA |
| Website | https://faces.org.ec/ |
| Founded | 1 January 1991 |
| Active on Lendahand since | 1 April 2022 |
| Credit Score | 3.40 |
Financial information per 2022-02-28
| Portfolio Overview | €49,199,000 |
| Leverage ratio | 24.35% |
| Write-off ratio last 12 months | 0.10% |
| % investment amount in arrears (>90 days) | 5.10% |
About Ecuador
Ecuador is located in the western corner at the top of the South American continent. Ecuador is named after the Equator, the imaginary line around the Earth that splits the country in two. Traditionally a farming country, Ecuador's economy was transformed after the 1960s by the growth of industry and the discovery of oil. There was rapid growth and progress in health, education and housing. It has a population of 16.5 million people, with rich cultural diversity, and about the size of Italy. The country’s arguably most famous for the Galapagos Islands, one of the most important sites for the Origin of Species theory by C. Darwin.
Last funded project
Ecuador
Female entrepreneurs in Ecuador face financial hurdles, but FACES aims to address this gender gap. María expanded her sandwich shop with a $1,000 microloan, providing jobs for her and her family. Investing in FACES empowers 150 entrepreneurs like María to grow. *EUR/USD exchange rate risk*