Participant Testimonials

The Boulder MFT in Spanish started in 2007, to date it has had 956 participants from 25 countries and 346 institutions from Latin America and the Caribbean. The following testimonials share the experiences had by some of our alumni that participated in the Boulder MFT in Spanish Program.

Elibaldo Acosta – AHSETFIN – Honduras
Year Attended: 2017

Participating in the program was an enlightening experience. In addition to acquiring technical knowledge, we were able to converse, share with and learn from a diverse group of participants from countries such as Peru, Ecuador, Paraguay, Guatemala and Mexico. As the Director of my institution, I most wanted guidance on how to improve employee productivity and control costs. In 2017, despite Honduras’ political challenges, my institution experienced the best financial returns and surpluses in our 10 year history. Using what we learned at Boulder, we strengthened our "Community Banks" project – comprising 90% of our portfolio – and are working to do the same with our "Individual Credit" project.

Guillermina Olvera – SMB Rural - Mexico
Year Attended: 2017

At Boulder, I found courses related to social performance most compelling. For two years, my institution has sought to improve our provision of banking and other formal financial services to clients living in high-risk situations. We set up a Social Performance division using methods we learned in the program. And because of the success of that project, we launched a Financial Education program - currently with 4 devoted staff members – to organize workshops on savings and credit with the aim of further mitigating the effects of poverty among our clients. We have also strengthened our Agricultural Credit division, using manuals and methodologies we learned at Boulder. In our first year we have done very well - our portfolio has increased by almost 15%.

Alberto Luz – Pro Mujer – Mexico
Year Attended: 2015

The most important knowledge I acquired at Boulder related to processes/information quality management, audit, risks, payment and recovery channels, distribution and correspondents. This past year, thanks to my participation in the program, I was able to provide technical support to help launch "Correspondents and opening of payment channels," a new project for correspondents in Mexico. We are happy with the success thus far, as originally my institution had two channels and today we have 7.

Carlos Catacora – CRECER IFD – Bolivia
Year Attended: 2017

At Boulder, I learned about different ways to analyze commercial strategies, the importance of putting "the needs of the client" first and how to improve your value proposition. This has allowed me to formulate and propose adjustments to the financial products my institution offers and improve our competitive advantage. At Boulder, I got the opportunity to share my experiences with peers from similar institutions and learn about their cultures, methods of analysis and processes for improvement. Learning about “cash in” and “cash out,” specifically, allowed me to make proposals which were later implemented in our Mobile Transactions project.

Furthermore, the impact on portfolio growth and staff productivity has been clear; before September 2017, the portion of the portfolio under my responsibility was declining (a continuation of 2016’s trend). However, after applying my acquired knowledge from April to September 2017, the trend shifted from a decrease of 3% a month to a 4% increase.

Leisly Jauregui – CMAC Cusco – Peru
Year Attended: 2014

At Boulder, we learned about and compared the state of microfinance in various countries, not only through our coursework but also in conversations with participants. I found financial evaluation and financial products development courses most beneficial, as they relate very closely to my work. My organization sent 6 people to Boulder and when we returned, we worked together to create a product that still operates today called "CREDITOQUE" (credit right now).

Nancy Goyburo – CARE EDYFICAR – Peru
Year Attended: 1997 and 2007

The Boulder program provides a comprehensive overview of the microfinance industry and is therefore beneficial for participants who work in business or commercial areas. During my first Boulder program, what I learned about interest rates, scale and incentives have helped to improve my institution’s sustainability. And in 2007, I learned more about rural microfinance. Although we had previously done pilots in providing credit to rural communities, after attending Boulder we strengthened our program by introducing new tools.



Dolores Torres, President and CEO of CARD Bank, in the Philippines:

“CARD Bank started as an NGO in 1986, and we dreamed to have a regulated financial institution that will be owned and managed by the poor women. So after 10 years of operating as an NGO we started applying as a rural bank. So I was chosen to go to Boulder because the course at Boulder was very interesting at that time because one of the modules is on exponential growth. We thought, and I thought, that the learnings that I can get from the course can help us at CARD as well as the industry, the Microfinance industry. We were exposed to financial management as well and how to really achieve exponential growth was a big help because as a bank, we have to ensure that the bank is profitable. So my exposure at Boulder has prepared me a lot in managing the bank as the CEO.”


Ravi Tissera, Director CEO of LOLC Microcredit, Sri Lanka:

“LOLC Microcredit is the first private sector microfinance institution in Sri Lanka. I also represent LOLC Myanmar Microfinance Limited. I am Director of that institution, and both of these institutions I have set up. I came to Boulder 2005 and I came here with no microfinance experience. I was just an executive in a leasing company and just wanted to know about microfinance. The three week program here gave me very good insights. I think the training, especially the plenary sessions that were conducted here was very useful. More than that, the network that got created over the years has been of tremendous value. We are still in touch as far back in Argentina over to Europe with people who have come together who were in that program. So I think it is certainly of great value, and I can see that it is changing with the times and the requirements, which I think is the way to go.”


Marco de Natale, CFO FINCA Azerbaijan:

“There's a lot of great memories, it was a fantastic experience. First of all the people attending, coming from a very broad range of careers, of countries. From donors, from MFIs, from commercial banking. It was a fantastic exchange of experience of backgrounds. The program really opened my eyes to the sector, acted as very strong motivation, equipped me with very useful skills, and of course provided a great networking opportunity. So I am very very much indebted to the program. For me I can really say it changed my life.”

Guido Rojas, Grupo Financiero IMPROSA, Costa Rica:
"We have found ourselves here with people with tremendous experience who have brought us a lot of knowledge and have turned on a light showing us which things we can undertake to move forward with our businesses"

Jimena Iglesias, Planet Finance, Argentina:
"In the course, I have appreciated the high academic level of the faculty and the level of depth with which they approach the different themes, as well as the great diversity in origin of the faculty and participants. It's a meeting ground to bring forth the experiences of all of the participants, something that I believe nourishes this Boulder course for all of Latin America"

Rodolfo Marquina, FONDESURCO, Perú:
"I am confirming now that the experiences that are being offered in the course will truly be valuable to us in addressing this process with much more understanding and perhaps achieving a transformation in a shorter time period and with strategic partners that will help us to develop all of our intiatives and experiences so that we can multiply the services that are also advancing in Peru"

Steven Peterson, ADAPTE, Costa Rica:
"The faculty members are so professional that I believe that there isn't a single question that they can't answer. We are taking advantage of the richness of their knowledge and experiences and for that reason I am very satisfied with the program".

Boulder Institute of Microfinance

120 E Washington Street Suite 325
Syracuse, New York 13202, USA
+1 (315) 760-3091

Boulder Institute