FINCA Guatemala opened its doors in 1998 with its first branch in the town of Villa Nueva. In its early days, the institution exclusively offered village banking loans to women borrowers. Since then, FINCA Guatemala has grown into a full-service microfinance institution (MFI) offering financial services through a network of branches and through branchless banking channels.
FINCA Guatemala first offered individual loans in 2008 and launched SME loans in 2013. The institution now serves more than 32,000 clients with a range of financial products including individual and group loans, insurance, remittances and payments. It serves clients from 28 branches located throughout Guatemala and through expanding digital channels, including cash-in terminals and an online loan application system for Uber drivers.
The institution has emphasized reaching out to those most in need of financial inclusion. More than 80% of FINCA Guatemala clients are women. Moreover, while the institution offers credit products designed for urban borrowers, the majority of clients live in rural areas. FINCA Guatemala also promotes financial inclusion by providing financial literacy training. It has produced a range of education materials to increase financial literacy among children and adults, both clients and potential clients.
FINCA Guatemala is a leader in the microfinance industry due to its capacity to provide impactful financial services from a number of access points. The institution is fulfilling the FINCA Impact Finance purpose of profitably and responsibly providing innovative and impactful financial services to enable low-income individuals and communities to invest in their futures.