Financiera Confianza helped over 72,500 women entrepreneurs and mothers in Peru to get ahead

  • Martín Naranjo, the bank’s general manager, highlighted the participation of women entrepreneurs and mothers in the economy, as “they run their businesses without neglecting their families”.
  • Confianza helps women entrepreneurs and mothers from the country’s 25 regions, and in 2014 granted productive loans to 15,000 more mothers than in 2013.
  • In the last year, the bank also contributed to helping 11,000 of its customers who are mothers to rise out of financial poverty.

In 2014 Financiera Confianza supported the development of over 72,500 women entrepreneurs and mothers from all regions of Peru by granting them productive loans to help them achieve sustainable development. Of that total, almost 11,000 customers who are mothers were able to rise up out of financial poverty.

Martín Naranjo, the bank’s general manager, highlighted the role of women entrepreneurs and mothers in the dynamic of the country’s economy, as the experience gained by Financiera Confianza all over the country shows they often have to overcome more barriers than men when they start up an enterprise, and they do so without neglecting their families.

“Peruvian mothers have always been characterized by being at the head of their households, and women entrepreneurs and mothers even more so, as in addition to starting a business or productive activity –with all the sacrifice that implies–, they never neglect their families and their children, as they have not the slightest doubt that they are the real reason for all their hard work. So with this in mind, Confianza supports them in moving forward, but always from a responsible standpoint”, said the former Director of Banking and Insurance and PFAs.

Financiera Confianza is at the head of the Peruvian microfinance sector, and is present in all 25 regions of the country. Its mission is to build development opportunities for low-income families so they can improve their earnings and quality of life.

Just a few days after Mother’s Day, Naranjo Landerer conveyed his greetings to all the mothers in the country, and highlighted the fact that each year more and more women and mothers opt to set up their own business, however small it may be, to improve the quality of life of their families.

Proof of this is that in 2014 Financiera Confianza helped 15,000 more women entrepreneurs and mothers than in 2013, representing an increase in support of 26%.

In December 2014 the bank served 207,019 active customers, of whom 87% are vulnerable people, 51% women, 39% young people (under 35), and 23% come from rural areas in the country. In general, after two years with the bank, 23% of Confianza’s customers rise up out of monetary poverty.

Pledge to mothers: Palabra de Mujer and Ahorro para Todos

To underline its mission, Financiera Confianza offers the loan program entitled Palabra de Mujer, aimed at low-income women entrepreneurs in rural and urban areas. As part of a support group, they can access loans and training in financial literacy. The methodology used to assist them involves the creation of mutual support groups of eight to 25 women with consecutive cyclical loans and training in personal development and business management.

In 2014, the bank served 48,000 women with this system of loans, which in the last three years has benefited a total of 132,000 women entrepreneurs. 17.1% of Palabra de Mujer customers who stayed with Financiera Confianza for at least two years (21,357) rose out of poverty.

Financiera Confianza is also the first private institution in Peru that spearheads and promotes a savings program in a rural area, Abancay, where its Ahorro para Todos program has now been under way for twelve months with good results, especially in terms of benefits for the women and mothers in this area.

Ahorro para Todos promotes savings as the start point for entrepreneurship, and provides financial literacy courses for low-income people. It currently has over 1,110 customers, of whom 90% are women and 70% are mothers. For 90% of the total –and thanks to Financiera Confianza– this is also their first experience with the financial system.

The Ahorro para Todos program is developed with funding from FOMIN, CAF, CityFoundation, AusAid and Confianza itself.