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A Micro, Small and Medium Enterprise Finance Company in Mexico
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Aspire S.A.P.I. de C.V., SOFOM, E.N.R. (“Aspire”) is a micro and small-medium enterprise (“MSME”) lender in Mexico serving the states of Jaliso and Veracruz through its 6 branches. Aspire focuses on lending to the missing middle, defined as individual clients who require loans larger than those provided by a traditional group-oriented microfinance institution (greater than $500) but smaller than those provided by a commercial banking institution (less than $10,000). Aspire was founded at the end of 2008 through the partnership of Creation Investments Social Ventures Fund I and a seasoned management team, organized as Fig Tree Ventures. Aspire reached break-even within 18 months of commencing lending operations without utilizing any grant funding or subsidized technical assistance. In the summer of 2010, Aspire acquired MicroCred Mexico (“MCM”) and expanded its footprint to the state of Veracruz. Aspire is registered as a Non-Banking Financial Institution (“NBFI”) and is headquartered in Guadalajara, Mexico.
