- Loan Portfolio Growth: $75
New clients approach us all the time. As a result, the average size of our portfolio swells by about $75 a year. We cover the costs of our portfolio first, so we can deliver on our promise to the clients.
- Office Supplies: $100
Running a little MFI takes a big list of materials. We give out hundreds of deposit slips a week and every month we’re writing more checks to clients. Making sure the office is stocked lets us continue working, so the clients aren’t left waiting.
- Savings Program: $185
La Ceiba now offers savings options for the first time in its history. We connect clients to banks and collect deposits for personal accounts with no fees, no extra charges, and no strings attached. Using templates, clients set goals for themselves like covering family emergencies and tuition payments for their children. We provide incentives to save by matching interest rates on deposits and raffling off prizes to clients who save consistently.
- Coffee & Donuts Community Building: $270
We want to exceed expectations about what a financial institution does. For that reason, we provide a comfortable space for clients to come and relax. There is no expectation to talk about loans or financial topics. We provide coffee and donuts every other Saturday at the local elementary school, to simply hang out with fellow community members.
- Eduar Reyes High School Scholarship: $300
Eduar, the current LC Loan Officer, is working hard to graduate high school. We support his efforts to educate himself and provide value to his position in the organization. He’s pursuing a degree in financial accounting and in February 2017, starts his second year of studying. He comes to work in the morning and goes to school in the afternoon.
- Salary Accounting Assistant: $1090
The Accounting Assistant is crucial to our operations. A large amount of responsibility falls on them to document the many transactions that occur every day. The assistant provides legal, professional, and business advice to the team. With their help, our operations comply with country standards and regulations.
The current Accounting Assistant is Francis Escobar; Francis is an El Progreso native who believes in development and careful planning. She has worked with us for more than two years and serves as an advisor to the board.
- Salary Loan Officer: $3000
The LC Loan Officer is our immediate contact with the clients. We hire the officer directly from the communities to which we lend. The officer gives us a grassroots perspective and a clear channel of communication with the client base. In the office, we train the officer in computer skills and professional development. We also provide academic benefits while employed.
The current Loan Officer is Eduar Reyes; he’s a 20 year old from Villa Soleada with a good heart and a solid work ethic. Eduar has been with us for over three years and attends a local high school with LC support.
- Salary Program Director: $3820
The Program Director’s salary is our organization’s largest expense. By having a director in Honduras, we ensure the student’s vision continues to influence our projects. The director manages funds and other donations in accordance with our values. Furthermore, the position offers LC alumni an opportunity to work abroad and gain experience in international development.
The current Program Director is Jeff Paddock; Jeff has worked in Honduras for over a year, after graduating from the University of Mary Washington. He’s been a part of La Ceiba since 2013 and makes sure all of our programs are running smoothly. In the morning, he works at the office before spending the afternoon in the communities.
