PT MITRA BISNIS KELUARGA VENTURAStatus: Completed investment
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Who is our customer
Mitra Bisnis Keluarga Ventura (MBK) is a non-banking financing company that provides Grameen-model microfinance loans to low-income households in Indonesia. Currently, MBK reaches more than 330,000 clients (all female) with a loan portfolio of US$33 million. MBK has 1,400 employees, of which the field staff consists of women only. MBK is the first microfinance institution in Indonesia financed by FMO.
What is our funding objective?
FMO provided an unsecured senior A/B syndicated loan facility amounting to US$13.5 million, with a tenor of 5 years. The syndication comprises US$7.5 million from FMO and US$6 million from BIO. The funds will be utilized to finance the growth of the microfinance portfolio in rural areas of Java.
Why do we fund this investment?
FMO's loan will provide for very small working capital (on average only US$200 per client) to the bottom 25% of the population in Indonesia (by income), with the intention of stimulating the development of small business. This working capital is offered to women only. As part of FMO's non-financial services, MBK has been introduced to the Smart Campaign’s Client Protection Principles (CPP), which educate borrowers in order to prevent over-indebtedness, among other things. In December 2014, MBK was awarded with the CPP Certification from the Smart Campaign.
|Total FMO financing
|USD 15.00 MLN
- Website customer/investment
- Financial Institutions
- Effective date
- End date
- Total FMO financing
- USD 7.50 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)