Microfinance > MFI

credialbasrl @hotmail.com

CrediAlba was found in june 1995. It offers only individual microloans, and prefers already existing microbusinesses, even if it studies projects of new microbusinesses.

CrediAlba is a private owned company, and is not a financial entity as it does not offer savings services, but only provides microloans on its own capital. Its goal is to make possible the access to credit to the people generally excluded from the conventional financial system by focusing on microenterprises in production, dealing and urban transportation.

Before allowing any microloan, a no-scheduled visit is done in the microenterprise of the future clients, and in their home as well in order to evaluate their capacity of payment. There is also a demand at the national risk general office in order to check if the clients already have any credit and if they do not have any failure to pay back in the past.

The payments for the microloans are every week, and represent 5% of the total amount each week. Thus, the time of reimbursement is about 5 months and a half. The microloans in USD or BOB and can be reimbursed in the currency the clients want. The weekly payment is made at the office of CrediAlba.

CrediAlba’s goal is to offer microloans to its customers as quick as possible and with a minimum of administrative papers as possible: in less than 24 hours if the microloan is accepted. CrediAlba only lend to couples: the signature of husband and wife are compulsory. For an amount more than 1400 BOB (140 EUR), guarantees are compulsory, such as land or house ownership.

For CrediAlba, it is very important to be adapt to the financial situation of its clients. So after 3 months, it is possible to pay back the whole amount or a part of it before the term. If a client does not come and pay once, the institution calls them and then visit them to find a solution. The next payments will be re-arranged without no extra fee: the amount of the payments will be decreased and the duration of the loan will increase.

The punctuality is encouraged by little presents when the customers pay back several times in a row on time.
The only mean of promotion is the mouth-to-ear, as the satisfied clients are the best advertisement. Nowadays, the increasing numbers of demand cannot be answered as CrediAlba does not have enough capital.

The staff of CrediAlba is 3 loan officers, one cashier, one person in charge of the informatics system and the General Manager.

No impact of the economical crisis has been noticed so far.