B Impact Report

Logo for FINAE SAPI DE CV SOFOM ENR

FINAE SAPI DE CV SOFOM ENR

Student Loans
Certified Since: May, 2012
Location: Mexico City, Ciudad de Mexico, Mexico
Sector: Service with Minor Environmental Footprint

Overall B Impact Scoreinfo_outline

103.4

The B Impact Scores are being compared against all businesses that have completed the B Impact Assessment

Founded by a group of Mexican entrepreneurs headed by Francisco Vizcaya, FINAE is a social impact financial institution specialized in student loans in order to support Mexican students who do not have enough financial resources to pay for their undergraduate tuitions.

FINAE provides the students a product that allows them to study in a qualified University at an affordable monthly payment. Once they start working, they are able to payback without having a high impact in their expected income. Founded in October 2006, FINAE grants its first student loans in November 2007.

The idea of offering student loans emerged as a solution to the actual situation of public universities: every year, about 350,000 youngsters in age to attend college are not able to do it because public universities are overcrowded and they lack of resources to pay for a private university.

There are 10 million students between 19 and 23 years old, of which only 3 million goes to college, that is to say, there are more than 7 million college-age youngsters who do not study, which is equivalent to almost the entire population of Switzerland, or the entire population of Chicago.

Impact Area Scoresinfo_outline

Previous Overall B Impact Scores