Avanza Sólido – a typical LMDF investee recommended by ADA

10 October 2022
Representatives of Avanza Sólido, LMDF and ADA

As the mandated investment advisor to the Luxembourg Microfinance and Development Fund (LMDF), ADA prospects, analyses and selects microfinance institutions with profiles sought by the fund. ADA only selects microfinance institutions (MFIs) that meet the strict LMDF financial and social criteria and that add specific value to the market in which they operate.

The Mexican IMF Avanza Sólido is a typical LMDF investee. Founded in 2011, Avanza Sólido has a particular focus on strengthening the economic independence of women and their families through quality, long-term financial products and services that benefit the entire community in a sustainable manner. 

In addition to consolidating and growing the business of microentrepreneurs with microcredit, Avanza Sólido helps vulnerable groups to strengthen their business skills thanks to educational and entrepreneurial services. 

In addition to these services for entrepreneurs, the MFI has dedicated microfinance programmes to improve their clients’ housing and health. The health programme provides specialized services for women, covering their physical, nutritional, maternal and emotional health.

"Avanza Sólido is exactly the kind of microfinance institution ADA recommends for LMDF investments."
Daniela Lafortezza, ADA’s Investment Manager

Since its creation eleven years ago, Avanza Sólido has supported more than 200 000 microentrepreneurs and granted loans for nearly 150 million USD through a network of 19 branches and mobile offices.

In total, LMDF has invested 1.3 million EUR in the IMF since 2019. ADA regularly performs due diligence visits, presents investment files to the ad hoc committee and follows up on the investments in view of fulfilling the financial and social mission of LMDF. 

Daniela Lafortezza, ADA’s Investment Manager for Central America and Mexico, explains that “thanks to their strong social performance and impressive track record in enabling the financial inclusion of vulnerable populations, especially of women entrepreneurs, Avanza Sólido is exactly the kind of microfinance institution ADA recommends for LMDF investments.”