Opportunity International's partner in Honduras since 1999 is locally known as Instituto Para el Desarrollo Hondureño (IDH), and has been working as a microfinance not-for-profit for over 40 years.
In keeping with its desire to provide clients with greater financial inclusion, IDH is in the process of becoming a regulated financial development organization allowing them to offer a wider range of products including loans, insurance, savings, remittances, utility payments, lines of credit and term deposits. This ambitious growth process means they aim to serve 10,000 clients through 14 offices by the end of 2018.
Current Projects In Honduras
Startup 3 new branches - Goal $690,000
IDH plans to open three new branches in 2018 – in the cities of Comayaguela, la Entrada and Puerto Cortes. IDH forecasts each of these branches will reach sustainability within 18 months.
If you're interested in supporting one of these branches, please contact us!
Seed Funding for New Branch Loan Portfolio - Goal $2,400,000
Each of the 3 new branches needs portfolio seed money to serve an estimated 1,300 clients. IDH has a 98% loan repayment rate, which means dollars donated to the loan portfolio are an incredible philanthropic investment – loans are lent out, repaid, and lent out again and again.
Meeting Regulatory Requirements - Goal $150K:
IDH plans to begin operations as a regulated institution in January 2019. They will then be able to capture deposits. First, however, they need to upgrade security in all offices with safety boxes and security guards. IDH hopes to upgrade 8 offices in 2018, at a cost of $18,750 per office.
Launching Mobile Banking - Goal $20,000
In 2017 IDH rolled out Mobile Banking giving loan officers the ability to do credit analysis, credit approval and collections in the field through cell phones. Half of their loan officers have been trained, and the rest will be equipped in 2018. Investing in tech for our loan officers is bringing the financial world to the doorstep of the slums of Honduras. Be part of the movement!
“Encounter Days” For Small to Medium Enterprise (SME) Clients - Goal $40,000
IDH has identified SME (Small and Medium Enterprise) clients as a key target market for growth. With individual loans, SME clients grow their businesses, create jobs, and are a stabilizing force in a developing country’s economy. IDH has designed specific training for these clients called “Encounter Days” and plans to host 2 training sessions in 2018.