German investment and development company DEG has signed a $25 million loan agreement with Banco Solidario to finance micro-enterprises run by women.
The operation lasts five years and will provide credit to thousands of women who are dedicated to production, commercial or service activities.
Banco Solidario provides microcredit to more than 60,000 women microentrepreneurs, who make up 57% of the total microentrepreneur clients of this banking entity.
More women accessed private bank loans in 2023, but received less financing than men
The balance of foreign investments that Solidario has received to date exceeds 270 million dollars.
The goal is to serve large segments of the population that are excluded from the formal financial system, according to the entity’s press release.
The microloan option is up to 20,000 dollars, which must be repaid within a period of 48 months (four years).
The entity’s website states that the following are the conditions for obtaining a loan:
You can complete the application process online at the following link.
You do not need RUC or RISE to access a microcredit in Solidari. You can also apply for another micro-business activity, but you must have a company that has been operating for at least one year in any other area.
On the website, it is stated that the loan is obtained within 24 hours after the submission of the documentation required to process the operation.
Young people under 25 have the worst credit history in Ecuador: how can they improve their score?
Source: Eluniverso
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
