> Posted by Center Staff
What makes a great loan officer?
ACCION International Ambassador Wei Wei Pan tackles this topic in a recent post on the Ambassadors blog, while wrapping up a visit to Chifeng, China and the ACCION Microcredit Company.
Previously, we pointed our readers to insights from Ambassadors Pamela Chang, David Firth Bard, Stephen Matthew Lee, Jason Loughnane, and Leah Vinton. They are among the team of Ambassadors charging around the world, soaking up knowledge “on the ground” in places as far-flung as Paraguay and Tanzania. You can subscribe directly to the Ambassadors’ blog to get a feed of their news.
“Thoughts on Chifeng ACCION Microcredit Company,” which was posted August 10, begins:
During my stay in Chifeng, China over the last two weeks, I have closely observed the work of ACCION Microcredit Company’s (AMC) loan officers and I have also experienced the daily operation of AMC. I am very impressed by the loan officers and the fresh energy AMC injected into Chifeng’s finance industry. Being the first 100% foreign-owned Microcredit Company in China, ACCION has had to overcome many difficulties.
AMC provides micro and small businesses with non-collateralized loans basing their underwriting on ACCION’s proven methodology of cash flow lending. Loan uses are mainly for businesses, such as working capital and purchases of income generating assets. AMC remains focused on the micro market with loan sizes starting at one thousand Yuan (RMB1,000) for a maximum term of 12 months with both principles and interests being paid back in installment monthly.
AMC’s main advantages in the urban market include flexibility of loan guaranty and customized services. Guarantors do not have to be regular salary earners, as long as they have ability to pay back the loans. Loan officers talk closely to applicants about their family and their business, and they also visit their home and businesses to collect first hand information. They also use every channel, such as friends and business partners, to learn more about the clients. Through these, clients’ month income & expenses, cash flows, personal creditworthiness, and other information can be evaluated and cross-checked.
Read the rest of this post, and check out the other Ambassadors’ reports, by clicking here.
Image credit: bdesham
Have you read?
Dispatch from the Field: Loan Officer Incentives – A Delicate Balancing Act
Smart Campaign Unveils e-Learning Course to Boost Client Protection and Financial Education
Putting Carrots to Good Use in Microfinance