FORA is the largest non-bank microfinance organization in Russia

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FORA is the largest non-bank microfinance
organization in Russia

• 10 788 clients
• In 13 subjects of Russian Federation
• 120 loan disbursed daily
• Each loan creates or supports 2 jobs
• 70 clients are women
• Loan portfolio of 205 million rbls (US6.6
  million)
• Portfolio quality
• Portfolio At Risk more than 1 day - 1,13
• Write offs - 0,75
• Return On Assets 4,31

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History

• Has been founded in July 2000
• By consolidation of 4 Russian microfinance
  organizations
• The founders are Opportunity International
  partners in Australia, Canada, Germany, Russia,
  the UK and the USA
• Funded by the governments of UK, US, UNHCR and
  some private foundations

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Offices in 23 cities and towns
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Our clients

• Private entrepreneurs and legal entities
• With business experiences exceeding 3 months
• Requiring micro loans for working capital and
  fixed assets purchase
• With no past due tax payments
• Average loan size
  - first loan 22 000
  rbls. (US700)
  - subsequent loan 28 000 rbls. (US900)

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Micro loans

• 1 to 18 months loan term
• 3 5 monthly interest rate
• First loan up to 50 000 rbls (US1,600),
  subsequent loans up to 100 000 rbls (US3,200)
• Loan disbursal within 1 to 5 days
• No business plan
• 80 clients choose group loans

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Foundation of our success

• Competent personnel
• Internal policies and prodecures
• Focus on micro enterprise development
• Lending technology
• Image reputation
• Combination of international best practice and
  local market knowledge
• Strong corporate culture

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Impact on the lives of clients

• 2/3 of clients and only 1/3 of non-clients
  increase entrepreneurial income.
• Clients commented the access to loans to be the
  core reason for income increase.
• Over 3/4 of clients plan their business activity,
  while prior to becoming FORA clients only 1/2 of
  them did so.

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Microfinance perspectives in Russia

• Entrepreneurship is the way of increasing the
  well-being of Russian people.
• There are approximately 5 million entrepreneurs
  in Russia.
• 70 of entrepreneurs indicate the need for
  lending resources for their business development.
  
• Non-bank microfinance supports business growth
  and the development of finance sector, meeting
  the need in a spectrum of financial services.

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