For twenty years, Monte Credit, as part of VisionFund International, has been operating in Montenegro. Our mission is to provide economic and financial support to the most vulnerable economic and social groups of the population. We do this to provide vulnerable households in underdeveloped areas of Montenegro with a basis for a better life and to create sustainable entrepreneurial activities with the aim of long-term growth and development.
Monte Credit's core business is entrepreneurial loans to those who do not have, or have limited access to commercial bank lending. The loans are intended for small entrepreneurs to establish and improve micro-entrepreneurship in the sectors of agriculture, tourism, trade, crafts, as well as the reconstruction and repair of facilities needed for business development.
Most of our clients use loans to start a business, which creates new jobs for their family members. As their business becomes more sustainable, more than half of our clients remain with us throughout the following loan cycle. Most of our portfolio is used for agriculture, but it also covers other types of small businesses. Over 60% of all our clients are women. Women, as the main caregivers of the family, are those clients who are most likely to use increased income for the benefit of their children. The Microfinance Center has rewarded our organization with an innovative and original way of lending through village associations, the integration of microfinance activities with a social mission, and dedication to a socially responsible way of working.