The institution was founded in 1980 as a private non-for-profit foundation by the initiative of a group of small industry entrepreneurs with the aim of contributing to the economic, social, and educational development in Ecuador.
INSOTEC is present in Ecuador through 21 agencies. The targeted customers are micro-entrepreneurs in rural areas where competition is less present. The economic activity that predominates in the region INSOTEC targets, is the agricultural sector. Indeed, the MFI’s customers are farmers growing several products such as apples, bananas, or cocoa.
The MFI provides training on the development of social enterprises, financial management, savings, and financial education in general, also online with a quite big offer of webinars on their website. It also offers free health services for customers and their children.