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AMC Sociedad Cooperativa de Ahorro y Credito

The Department of Morazán is the poorest of El Salvador and it was harshly beaten by the war. With the peace agreements and the return of refugees from Honduras, several organizations were created to socially and economically reactivate this area of the country. The PRODERE program and UNDP founded the Association for Local Development in Morazán (ADEL-Morazán), which gathers local actors around the financing of micro and small enterprises, producers' associations and technical assistance. ADEL-Morazán gathered seventeen member institutions and works, up to date, with different external funds. Among the main programs of this foundation were enterprise credit and development, besides local development, environmental and agricultural development. In 1999 they separated the credit project due to difficulties because users that received donations and credits resisted canceling credits. In the search of guaranteeing financial access for subsisting micro enterprises and simple accumulation, as well as the sustainability of the fund, they looked to create an enterprise that would generate income for the sustainability of other ADEL projects (technical assistance and training). During the year 2001 created the AMC-RL, which is a mercantile anonymous society with three types of members: ADEL, as major associate-99% of the capital, community associations legalized by the Municipalities, called ADESCOMYPES (116 actions) and 12 individual persons (76 shares). AMC has received contributions for its development from several banks and agencies (IDB, Central American Economic Integration Bank, AID, Sol MON, national banking system, ALTERFIN, etc.). It is also a member of ASOMIF, CAMIF, FOLADE, Italian Banca Etica ETIMUS, RAFAD (Suisse guarantee fund). Currently, AMC has 13,800 clients, of which 62% are women, specially micro and small entrepreneurs in the rural areas of the country.

Type of organisation	Service organization /profit
Sector	Financial Services
Country	El Salvador
Founded	2000
Hivos partner since	2003

AMC, incresing loan book

DAC-sectors:	Banking and financial services
Location:	El Salvador
Beneficiary:	small entrepreneurs: small business, trade, crafts, services
activity	Programa de crédito para microempresas
Direct outreach	500 - Beneficiaries: poor and/or marginalised women and men
Indirect outreach	3000 - Beneficiaries: poor and/or marginalised women and men
Contract total:	231.164
Contractperiod:	01-10-2003 until 01-08-2008

Description:
It is the first funding from HTF for AMC. It is a credit for 256.894 Euros, at eighteen months, where Hivos guarantees 90% of this amount, for the purpose of increasing credits for this organization, to be distributed among rural micro and small entrepreneurs in El Salvador.

AMC, 2005 growth loan portfolio

DAC-sectors:	Banking and financial services
Location:	El Salvador
Beneficiary:	small entrepreneurs: small business, trade, crafts, services
activity	Programa de crédito para microempresas
Direct outreach	350 - Beneficiaries: poor and/or marginalised women and men
Indirect outreach	1700 - Beneficiaries: poor and/or marginalised women and men
Contract total:	148.392
Contractperiod:	05-08-2005 until 01-08-2008

Description:
It is the second funding from HTF for AMC. It is a credit for 200.000 USD, at eighteen months, where Hivos guarantees 90% of this amount, for the purpose of increasing credits for this organization, to be distributed among rural micro and small entrepreneurs in El Salvador. The guarantee amounts in EURO: 148.392.

AMC, credito HTF nuevo loan

DAC-sectors:	Banking and financial services
Location:	El Salvador
Beneficiary:	small entrepreneurs: small business, trade, crafts, services
activity	Cartera de crédito / crédito promedio ($933)
Direct outreach	13000 - Beneficiaries: poor and/or marginalised women and men
Indirect outreach	65000 - Beneficiaries: poor and/or marginalised women and men
Contract total:	0
Contractperiod:	01-01-2008 until 01-07-2011

Description:
SV045F03 - AMC, Credit HTF new loan It consist in loans approved by AMC for three years by USD $1.250.000, that substitute the previous one. The main goal is to fund growth in the loan portfolio.