BBVA Microfinance Foundation
in Chile
The BBVA Microfinace Fondation is present in Chile through the Fondo Esperanza and Emprende Microfinanzas entities. These entities have assisted 79,541 entrepreneurs. 81.4% of them are women, and their average loan amount is 570 dollars.
Emprende Microfinanzas
Emprende Microfinanzas, S.A. was set up the 12 August 2009, by an agreement signed with the Cooperativa de Servicios Liberación, Credicoop. The entity aims at granting loans to Chilean vulnerable entrepreneurs, especially to the microenterprise sector, in order to invest them in supplies, materials, improvements of the business or garage, or any other need which could improve any business.
Fondo Esperanza
Fondo Esperanza, SpA was set up the 18 March 2011 by the BBVA Microfinance Foundation and the Fundación de Beneficencia, Ayuda y Esperanza.
Fondo Esperanza leads the Chilean microfinance sector and Works with the village banking methodology: groups between 18 and 25 people who work in the same sector and join together to get microcredits. This form has been introduced to complement the individual credit as their businesses develop to reach stability.
The entity grants financial products and services. The microcredits granting stands out among the others, as these always go along with education and training programs aimed at low-income entrepreneurs.
Miriam Aillal and her husband, Sergio