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201
PBX 221 4000
Bogotá, D. C. - Colombia
NIT 900.077.393-5
www.coserfin.co
CEMCOL and COSERFIN are both Colombian private companies founded 26 years
ago and 11 years ago respectively, in Bogotá Colombia. The purpose of these
companies is to provide payroll loans to pensioners in Colombia. The companies are
supervised and controlled by Colombian authorities “Superintendencia de Economía
Solidaria y Superintendencia de Sociedades”.
Main Business:
Payroll loans are those granted to pensioners with a previous contract celebrated
between CEMCOL-COSERFIN and the pension Payer´s Company to deduct every
month from the pension of each client the monthly payment for the loan granted by
CEMCOL-COSERFIN and subsequently transfer those payments to the companies.
Therefore, the clients do not pay every month; the monthly payment is deducted
straight from their pension and transferred to CEMCOL-COSERFIN by the pension´s
payer.
Target Market:
Payroll loans can also be granted to workers; however, after evaluating financial risks,
CEMCOL-COSERFIN decided to work only with pensioners. Currently, the companies
lend money to pensioners from:
CONSORCIO FOPEP
COLPENSIONES
CAJA DE RETIRO FFMM
CASUR
CAGEN
FIDUPREVISORA
PENSIONADOS MINDEFENSA
In the list above are named the main pension payer´s in Colombia. It includes private
pensioners, public pensioners and retired military and police.
Business Model: As it was mentioned previously the main business of the companies
is to provide payroll loans to pensioners. The characteristics of these loans are:
Calle 44 # 57A - 30 Of. 201
PBX 221 4000
Bogotá, D. C. - Colombia
NIT 900.077.393-5
www.coserfin.co
Business Location:
CEMCOL and COSERFIN have two own main offices in Bogotá (one for each company)
and one rented office in Medellin (shared by the two companies). For the rest of the
country, the companies have a sale force of 35 freelance representatives paid by
commission.
Organisational structure:
SHAREHOLDERS
GENERAL MANAGER
FINANCIAL
MANAGER ACCOUNTANT TREASURER CREDIT/SALES DIRECTOR PORTFOLIO MANAGER
Financial Projection: The financial projection is attached in excel. It shows the initial
investment of USD$5,000,000 and the expected cash flow during a period of 48
months. You will find separately the proportional amount for the capital and for the
rate. It includes the applicable deductions and it also shows the financial behavior in
case of reinvestment every month.
How to invest: CEMCOL and COSERFIN have considered different options: Private
investor/partners or lenders. According to the interest of the parties, the terms and
conditions are discussed in order to guarantee a profitable, safe and long term
agreement for both parties.
Foreign Investment in Colombia: For the last ten years Colombia has been one of
the countries with more foreign direct investment in Latin America due to the stable
economy, the diversification of the financial services, the trade opening, and the
signing of new commercial agreements, among others.