Loans

Direct Investments for specialized investors

The Loans Account is designed for specialized fund managers and institutional investors wanting to provide direct private investments to financial institutions active in Micro or Small Enterprise Impact finance in emerging markets. The account will give you access to a full range of services to assist your investment processes, including selection, origination, monitoring, servicing and expert knowledge support.

Contact Us

We will design an advisory mandate tailored on your investment objectives. We will define together your positioning and focus which will bring competitive advantages to your investment strategy. Based on your eligibility criteria, this account will help facilitate your investment step by step through its standardized and proven investment process.

1. Research

  • 1005 Institutions Researched
  • 71 Countries

2. Deals

  • 4,885 mUSD Disbursed
  • 3683 Closed Transaction

3. MyPortfolio

  • 1,939 mUSD Outstanding
  • 272 Investees

Learn more

1. Research

Symbiotics has developed a standardized procedure to perform due diligence and risk assessment on microfinance investments. This thorough and proven process has assisted more than 27+ asset managers and institutional investors in more than 1000 microfinance transactions.

1.1Desk Review

Symbiotics’ investment analysts receive three years of audited and non-audited financial and operational information, both in paper format or electronically, in addition to all legal due diligence elements. The compilation and analysis of this information produces a ten to fifteen page Institution Desk Review report.


1.2Credit Risk

Pursuant to the Desk Review, Symbiotics’ investment analysts travel on-site to perform the credit risk analysis, through interviews and credit scorings. The methodology covers both past quantitative performance and a qualitative assessment of future risk, compiling 55 indicators. The output report is a two to three-page Credit Risk report.


1.3Social Responsibility

Following the desk review and credit risk analysis, Symbiotics’ investment analysts perform a Social Responsibility assessment based on key institutional components (governance, people, products, clients, community, environment), which produces a two to three-page output report on Social Responsibility.


1.4Monthly Monitor

Symbiotics’ investment analysts collect monthly key indicators on each financial institution monitored. The analysts then produce indicators, ratios, graphs and qualitative follow-up of key risk factors which are updated monthly, after having exchanged with the institution on key elements of change.

Preview

2. Deals

Through our investment selection process, we seek to identify innovative and solid microfinance institutions and best -in-class small enterprise impact institutions and funds in emerging markets to find and close investment opportunities in line with the investment strategies and guidelines of our clients.

2.1Pipeline Management

The Symbiotics‘ team has developed a global pipeline of investment opportunities: collecting, aggregating and filtering funding needs of financial institutions which have a Funding Account. Each investment opportunity is posted on the Investment secured internet platform and pre-negotiated based on current market conditions.


2.2Investment Proposals

The Investment Proposals are available for institutional investors, with: 1) a top down approach, if proactively developed by the client; 2) a bottom up approach on a first come first serve basis, if emerging from the financial institutions; 3) on a horizontal or transversal basis, through syndications of different institutional investors for larger transactions. In any case, the client which has booked an investment proposal will have online access to terms and conditions of the transaction and all the relevant documents on the investee.


2.3Negotiation & Closing

Symbiotics represents the institutional investor during its negotiation with a given financial institution, and advises him/her accordingly, through both industry and transaction expertise, until all terms and conditions are finalized. The investment operations’ team is then in charge of making the closing and clearing all obligations and required precedents.

Preview

3. MyPortfolio

Syminvest provides a centralized platform for your portfolio monitoring and risk management. Symbiotics also handles all the servicing related to your deals, including transaction compliance, payment collection, portfolio reporting, risk monitoring and valuation.

3.1Payment Collection

Symbiotics is in charge of payment collection, including all reminders, follow-ups and confirmations with the institutions engaged in the payment value chain. In case of default, the investment operations’ team will be in charge of managing any technical or payment defaults, including work-out procedures.


3.2Risk Monitoring

Symbiotics performs monthly institutional monitoring and transaction risk assessments, including legal covenant compliance reviews. The risk management team may require additional on-site reviews, covenant renegotiations and other measures required by the client.


3.3Valuation

Symbiotics advises the client in relation to valuing the transaction at any given moment and produces the portfolio reporting necessary for him/her to close his accounts and produce periodic reporting to his investors.

Preview

Credo - Georgia

Corporate Profile

Credo began operations in 1997 as the Georgian Entrepreneurs’ Fund (GEF), a non-profit program established by the US charitable organization, World Vision International, to finance Georgia’s micro-enterprises and small businesses. In 2005, GEF registered as a legal entity and in 2007, it obtained a microfinance license from the National Bank of Georgia. Today, Credo is the largest Non-Bank Financial Institution (NBFI) in the country with a gross loan portfolio of over USD 170 million, serving nearly 200,000 clients through 59 offices and more than 2,500 village councillors. Initially focused on group lending in urban areas, Credo, over the years, began to put more of its focus on the underserved rural segment. The NBFI is a market leader in Georgia’s highly competitive and evolving microfinance sector.

10 Key IndicatorsDecember 2015
Total assetsUSD 197 million
Portfolio sizeUSD 171 million
Number of active borrowers196,947
Average loanUSD 622
Portfolio yield30.6%
Op. self-sufficiency (OSS)124.1%
Op. expense ratio (OER)18.7%
Return on equity (ROE)31.8%
Debt/Equity3.9
PAR>301.0%

MicroCred - Senegal

Corporate Profile

Founded in 2007, MicroCred Senegal belongs to MicroCred Group, an investment company created by PlaNet Finance and other partners which currently has operations in Madagascar, Senegal, Nigeria, Ivory Coast, Mali, Tunisia and China. All affiliates, including MicroCred Senegal, receive technical assistance and on-going MIS support from MicroCred Group. Today, MicroCred Senegal is the fourth largest microfinance institution (MFI) in the country thanks to its strong field presence, high growth and innovative marketing. The MFI largely provides individual loans catered to micro-, small and medium enterprises located in urban areas. While MicroCred Senegal is mainly present in Dakar, the MFI has progressively expanded outside the capital since 2011 and currently has over 480 branches and correspondents spread across all regions of the country.

10 Key IndicatorsDecember 2015
Total assetsUSD 87 million
Portfolio sizeUSD 79 million
Number of active borrowers42,496
Average loanUSD 1,840
Portfolio yield23.0%
Op. self-sufficiency (OSS)118.2%
Op. expense ratio (OER)14.1%
Return on equity (ROE)15.9%
Debt/Equity4.4
PAR>303.7%

Vision Banco - Paraguay

Corporate Profile

Vision Banco has more than 20 years of experience in micro-, small, and medium enterprise (MSME) financing. It was founded in 1992 by 11 Paraguayan bankers and commenced operations as a licensed and regulated financial company providing credit and savings to micro and small entrepreneurs. In 1995, with support from the German consultancy, Internationale Projekt Consult, and the Inter-American Development Bank, Vision Banco refined its lending methodology and operational efficiency. Mainly financed by public deposits, the bank has grown steadily since then. Today, Vision Banco is the leading MSME bank in Paraguay with a core mission to contribute positively to economic development, employment generation and poverty reduction by providing sustainable and tailored solutions for the majority of the population in all market segments and regions.

10 Key IndicatorsDecember 2015
Total assetsUSD 1 billion
Portfolio sizeUSD 675 million
Number of active borrowers232,180
Average loanUSD 2,221
Portfolio yield19.7%
Op. self-sufficiency (OSS)103.0%
Op. expense ratio (OER)12.9%
Return on equity (ROE)6.2%
Debt/Equity7.5
PAR>306.9%

PRASAC - Cambodia

Corporate Profile

Prasac was established in 1995 with support from the European Union as a project aimed to rehabilitate the agricultural sector in six provinces surrounding Phnom Penh. From that point on, Prasac witnessed several institutional developments until it received its microfinance license from the National Bank of Cambodia in 2004 followed by a deposit taking licence in 2010. Today, Prasac is the largest Non-Bank Financial Institution (NBFI) and sixth largest financial institution in Cambodia by asset size. Its significant footprint, enables the NBFI to expand financial inclusion, especially in rural areas of Cambodia where most of the population resides. Prasac is planning to transform into a commercial bank in the near future.

10 Key IndicatorsDecember 2015
Total assetsUSD 1 billion
Portfolio sizeUSD 857 million
Number of active borrowers320,893
Average loanUSD 2,694
Portfolio yield22.0%
Op. self-sufficiency (OSS)159.2%
Op. expense ratio (OER)6.3%
Return on equity (ROE)44.9%
Debt/Equity5.1
PAR>300.3%

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More