Unitus, a nonprofit organization committed to fighting global poverty through microfinance, will partner with Credex, a MFI in Mexico. Unitus was founded in 2000, by Bob Gay, Mike Murray, Joseph Grenny and Todd Manwaring, and is dedicated to providing capital investments and consulting services to financially sustainable MFIs worldwide. As of 2006, Unitus had 10 MFI partners worldwide serving more than 820,000 poor clients and as of December 2006, the Unitus portfolio of partners provided loans to 1.2 million micro-entrepreneurs and their families in India, Kenya, Mexico, Argentina, the Philippines and Indonesia. The details of the partnership between Credex and Unitus have not been announced. Credex, founded in 2002, targets the working poor in southwestern and central Mexico and has plans to expand across the nation. Since its establishment Credex has disbursed over 30,000 loans and currently serves close to 12,000 active borrowers with a $5 million loan portfolio. Credex does not report to the MIX Market, the microfinance information clearinghouse and no other information is publicly available about its performance. The partnership hopes to bring life-changing financial services to more than 82,000 customers by 2009, an increase from 12,000 today. Credex is Unitus’s second microfinance partner in Mexico, along with Pro Mujer Mexico.
Continue reading “Unitus Partners with Credex to Expand Access to Microfinance in Mexico”
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