FIS
- Location: Buenos Aires, Argentina
- Started microfinance operations: 1999
- Unitus Partnership Start Date: February 2006
- Clients when partnership began: 2,957
- Current clients served: 3,819
Website: www.fis.com.ar
Background: Fondo de Inversion Social (Social Investment Fund) or FIS was founded in 1999 as the microfinance arm of El Ceibal, an Argentine non-governmental organization offering educational and community development programs in the rural northern province of Santiago del Estero. In 2003, FIS expanded its operations to the urban areas of the greater Buenos Aires region. In 2005, FIS became an independent microfinance institution and is currently the leading microfinance institution in Argentina.
Leadership: FIS is led by President Juan José Ochoa.
Millions of people in Argentina lack access to financial services and opportunities to improve their lives. FIS is a leader in bringing microfinance to Argentina to meet this urgent need. With the support of Unitus, we can do so much faster and more effectively.
Product offerings and clientele: FIS offers individual and group solidarity loans, as well as financial assistance for the purchase of solar panels. Focusing on the urban poor, about half of FIS’s clients are women.
Highlights and growth strategy: FIS is currently the largest microfinance institution in Argentina, and has plans to expand its operations beyond Buenos Aires to the rest of the country. Unlike many MFIs, FIS is a for-profit institution, allowing the organization to receive foreign and domestic equity investments, which will greatly increase its funding options.
Meet a FIS client: Juana Fernández’s hairdressing business was seriously affected by the Argentine economic crisis of 2002. With a loan from FIS, she was able to keep her salon afloat. With the expanded services that she and her friend, business partner and co-FIS client Claudia (right) are able to offer, business is better than ever.
