FINANCED SINCE 2020
small enterprise lender
MEXICO
ProCredito is an SME lending company based in Mexico. They started as a subsidiary of the Procredit Holdings and gained independence in 2016, as they were bought by a group of enterprises in Mexico, including some of their workers.
ProCredito is focused on granting business loans to small enterprises that are either badly attended or not attended at all by the local banking sector. The main objective of the business is to finance fixed assets or working capital at a very affordable rate which represents a real support for small businesses. In December 2022 Procredito had 864 outstanding clients 37% if which were active in agriculture.
Impact Thesis :
Through an agreement with one of the largest Chilean exporters of berries to the United States, they can finance the production of 800 small farmers which are assisted by the exporter with technology and seedlings.
For farmers, it is their first credit, and they are emerging from a subsistence planting economy to an economy of selling products to the market, which generates higher incomes and a better standard of living. Furthermore, the cultivation of berries is intense in labor, generating jobs in the communities.
They financed small transportation ownership as well. The profile to finance trucks are women and men who have 1 to 3 vehicles which are their livelihood, drive 1 and the others hire an operator, generating an important source of income for the family, providing a service to the community of new transport and in better conditions.
