NAME: Corporación Microempresas de Antioquia (MEDA)

ADDRESS: Calle 57A 48-31, Medellín, Colombia

TELEPHONE: (57-4)512-2955. FAX: 231-5769

CONTACT: Alberto Valencia Ramírez, Executive Director

MEDA was founded in 1983 for the purpose of stimulating micro business development to alleviate the high unemployment levels in the state of Antioquia. Given the region’s demographics, MEDA focuses on lower income families, women micro entrepreneurs heads of households, displaced refugees and youths who have completed some or all of their elementary, secondary or university education in the city of Medellín and are encouraged to establish income- and job-generating businesses.

MEDA has developed two programs to promote productive, competitive and sustainable micro businesses: one assists start-up entrepreneurs and the other supports existing micro business owners. Both programs employ a learn-by-doing methodology developed especially for use in adult education, in which participants identify their strengths and weaknesses and work with MEDA consultants to create tailored solutions to their skills gaps and business needs. MEDA also manages a loan program for eligible micro entrepreneurs.

MEDA provides training in the principles of entrepreneurship, business administration, accounting, cost control, pricing, marketing, sales and use of credit. Upon completion of the program, participants prepare detailed business plans with the assistance of MEDA consultants. MEDA’s Credit Committee evaluates the plans, makes loans as appropriate, sets up repayment plans with the micro entrepreneurs and provides ongoing advisory support. MEDA has developed proprietary loan administration software to analyze micro credit requests and track performance.

ADMINISTRATIVE STRUCTURE

MEDA has an administrative structure consisting of a General Assembly of Members, an ad-honorem Board of Directors and Executive Director’s Office which has four branches: Administrative and Financial Division, Credit Division, Entrepreneurial Training Division and the Projects, Communications and Marketing Division.

COOPERATION

MEDA has obtained the cooperation of municipal governments, foreign foundations, Medellín’s universities and local grassroots organizations, as well as financing from the National Planning Ministry, to guarantee the success of its job creation projects. Some of these organizations are:

We are also members of different organizations, such as the Council of American Development Foundations ( www.redsolidarios.org), the Strategic Network Integral Development of Microenterprises. ( www.geocities.com/redesarrollo) and Red de Entidades de Capacitación y Promoción del Empleo en Medellín. (Network of Entities for Employment Training and Promotion in Medellín.)

SPECIAL PROJECTS

The following are some of the projects executed by MEDA with the support of different national and international institutions:

SPECIAL PROJECTS

The following are some of the projects executed by MEDA with the support of different national and international institutions:

With the support of the Caixa de Catalunya and the Spanish Organization Paz y Cooperación, MEDA has developed a comprehensive microfinance program whose social purpose is the improvement of competitiveness of micro businesses run by young entrepreneurs from Medellín. This project comprises commercial and marketing credits as well as consulting on accounts receivable form clients and accounts payable to suppliers.

March 2003 - Current

Thanks to the constant relationship between MEDA and CODEPSA a Spanish Foundation, promotional activities are carried out for the creation of small companies and the consolidation of small business units in Medellín, with emphasis on the lower income population. This project, which began in 2002, is a two year project executed thanks to the contributions of the Municipal Council of Madrid.

March 2003 - Current

The Program Competitive Youngster for Sustainable Employment began in March with the purpose of enabling young people to live in society and to be competitive in the new information technologies services sector. Five hundred youngsters between 16 and 29 years old from the three lowest socio-economic levels from Medellín and the Metropolitan area are being trained in this program.

MEDA participates in this program administered by Comfenalco Antioquia, in Representation of the Network of Entities for Employment Training and Promotion in Medellin, of which MEDA is a member. ENTRA 21, an initiative of the International Foundation for the Youth and the Multilateral Investment Fund of The Interamerican Development Bank, the US Agency for International Development (USAID), The Office of the Mayor in Medellín, Metrojuventud, and the Non Government Organization Picacho con Futuro.

2003 - 2005

This is a pilot project through which 30 displaced individuals living in Medellin are granted credits to start a psycho-social rehabilitation process and implement their own production unit. This project is carried out with the Corporación Minuto de Dios and with the support of the Municipality of Medellin through its Secretary for Solidarity Affairs.

2003-present

MEDA provides its services to the Bank of the Poor Program, an initiative of The City of Medellín, which seeks to assist and support people from the two lowest socio-economic levels –whom usually have the most difficulty in gaining access to credit- so that they can create businesses or consolidate existing ones. MEDA offers beneficiaries of this program, training and assistance. Thanks to this initiative, 5436 direct employments have been created up to this moment.

September 02 - Present

MEDA is a member of The Resource Foundation, a private non-profit entity based in the US which has allowed us to receive economic support from The Levi Strauss Foundation during the last two years in order to carry out business promotion amongst young entrepreneurs in the city. Promotional and motivational activities geared towards the development of business mentality were performed in universities. A group of 60 college students was conformed which participated in a training program for the creation of businesses and the design of successful business plans.

2001-2003

MEDA, with the support of the Levi Strauss Foundation and through The Resource Foundation, offers new educational alternatives through its Virtual Campus. This educational website for businessmen combines MEDA´S experience and knowledge in training with the agility and access offered by new technologies. In it, a group of teachers specialized in virtual education, direct on-line courses based on clear concepts and practical exercises which guide the student towards the creation of their own business or consolidate existing ones.

2003-2004

During the first semester of 2002, MEDA participated in the Presidential Program Youngsters in Action which was included in the social and labor component for Youngsters in The Plan Colombia. In association with The Corporación Minuto de Dios, 10 training employment programs directed to 430 youngsters from Medellín from the lowest socio-economic levels were carried out. This initiative allowed MEDA and The Corporación Minuto de Dios to provide solutions for the high demand for training that micro businesses which it assists have, and at the same time offer an opportunity for a group of young individuals with precarious economic conditions.

January – June 2002

Thanks to the support of the Caixa de Galicia and to the Spanish Non Governmental Organization Paz y Cooperación, MEDA carried out this project between January 2001 and April 2002 designed to provide assistance to 190 street vendors who did not have a definite working place nor any possibilities of obtaining credit. Besides the credits issued, 449 vendors received training on the basic principles of administration.

2001-2002

As part of The Re-Ordering Plan for Downtown Medellín and with the support of the Mayor’s Office, MEDA trained 5500 street vendors from different areas of the city which had to be re-located in Bazaars built for them in San Antonio and Los Puentes. November 1988- February 1999

Along with the The President’s Consulting Office for Medellin, in 1992 MEDA began this educational program for employment directed to youngsters with limited resources. In 1996, and thanks to the co-financing of MEDA and Company – a mixed Corporation created to coordinate and assist projects for micro businesses- this program was implemented in 120 Antioquian municipalities.

1996-1999

The experience of MEDA and the cooperation of the Buen Pastor Foundation and the Antioquia Secretary of Agriculture made it possible to create in 1995 a technological modernization and training program as well the construction of torage Centers for 408 women weavers from 9 rural villages belonging to the Antioquian municipality of San Vicente.

1995

This MEDA Project gathered and offered training in business and personal growth to 40 women affected by violence, most of them widows in invasion communities in the municipalities of Carepa and Chigorodó. Thanks to recycling, the members of this Precooperative are able to obtain an income higher then the minimum wage. PARU was created in 1994 with the support of the Colombian Solidarity and Emergency Network, The Office of the President and the Spanish Foundation Manos Unidas. The administration of this project was handed over to FUNDAUNIBAN in 1997. The important social balance of this program was possible due to the commitment demonstrated by the group of women who benefited.

1998-2000

With the purpose of generating income for a rural population affected by unemployment this Program was created in 1994 based in the rural village of Palermo. 120 families worked on the planting, recollection, packaging and sale of herbs for the production of animal concentrates. Two years after it was created, this program was handed over to the community which was organized itself into a Savings and Loan Cooperative. This project was co-financed by the Colombian Solidarity and Emergency Network.

1994

This support program for entrepreneurial development was created by MEDA in 1990 in order to train and assist owners of neighborhood stores in Medellín on the rational management of processes, inventories and contribution margins. During its different stages it had various supports from The Office of the Mayor in Medellin, United Nations Development Program, The Fundación Carvajal, The President’s Consulting Office for Medellín and the Fundación Corona.

1990-1997