Who are the local partners of Xetic?
How Xetic selects its local partners?
What do you gain by lending your money on Xetic?
What kind of guarantee is offered by Xetic?
Who are the local partners of Xetic?
The local partners of Xetic are Microfinance Institutions (MFIs).
These are organizations authorized to offer financial services to low income people who have no access or limited access to conventional banks. The image that we most often have of an MFI is a "financial" NGO, an organization totally and almost exclusively dedicated to the delivery of local financial services designed to ensure economic and social self-promotion of low income people.
How Xetic selects its local partners?
We recognize that the success of such a platform is strongly linked to the quality of projects that are proposed and their real economic and social impact.
To guarantee this quality, Xetic decided to rely on Microfinance Institutions already followed by major actors of international solidarity. In Senegal, for example, our local partner is a mutual that is followed on a daily basis by a french non-profit organization named ECIDEC, specialist in micro-credit for over 10 years, and that is part of a wider cooperation program conducted by the french Region Rhone-Alpes ...
To maximize the economic and social impact of each loan made, Xetic also decided to rely on Microfinance Institutions that have chosen to address the most vulnerable populations (isolated, disabled or diseased people) and that often have difficulty finding traditional financing. It is often those that display the greatest and fastest impacts. For example we are working currently on a partnership with the Fondation Mérieux to propose you micro-credits from women living with AIDS in Haiti ...
What do you gain by lending your money on Xetic?
Xetic is neither a new investment product, nor a traditional gift.
You lend to zero. And once the loan is repaid by the beneficiary you have chosen, you can recover your money or lends to other micro-entrepreneurs.
Xetic do not offer a return on financial investment, but a "return on human investment" with the satisfaction of having helped men and women to realize their projects, to improve their lives and to regain dignity ...
What kind of guarantee is offered by Xetic?
To encourage you to lend on our platform, our local partners are committed to pay you back your loan even if the ultimate beneficiary had to encounter repayment difficulties.
Xetic and its local partners rely on a regular monitoring of each beneficiary to minimize loan defaut.
However, zero risk does not exist and, as you can imagine, the countries in which our partners are located may be subject to political, economic or natural disorders. Xetic can not be held liable for loan default by one of our partners in these cases of force majeure.
Like any non-profit organization, Xetic lives thanks to the generosity of private sponsors and public donors. Our organization has already attracted the attention of the Région Rhone-Alpes, the Grand Lyon and the Fondation Merieux who support us financially in this phase of launch.
But these resources are not sufficient today to ensure the functioning and development of our project. To enable us to propose you new quality projects on this platform, we are soliciting an automatic participation representing 10% of what you decide to lend. For example, if you lend 20 euros, 2 euros participate to the running costs of our organization:
