Fintechs bet on a new strategy to boost credit in the microeconomy

Currently in Colombia, according to Dane figures, only 9% of micro businesses have access to bank credit, and reports from the financial sector indicate that the issuance of formal credits has decreased from 72% to 52% between 2019 and 2021. Situation which has led companies to look for alternatives to avoid expanding their market, looking towards areas of the economy that were not thought of before.

To this we must add that it is estimated that 1 in 5 Colombians resorts to the popular “gota a gota” to finance themselves, according to a study by DataCrédito, revealing the lack of opportunities in the sector, without forgetting that these inequalities are They usually translate into injustices and social inequity.

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Analysts from Treinta, a platform that focuses on generating credit solutions for micro and small businesses, stated that until the lack of access to this market is resolved and development alternatives are generatedthis problem will continue to be a spoke in the wheel for economic growth.

That said, they joined the strategies against credit access gaps with the launch of a new service for the purchase of inventory. This service is designed specifically for shopkeepers in Colombia, with the aim of facilitating access to formal financing sources for the popular economy, thus allowing small businesses to grow and prosper in an increasingly digital environment.

“Users will be able to make purchases through the Treint Marketplaceand enjoy a period of 15 days to pay your credit without interest or surcharges. This option, which adjusts to the purchasing habits of each shopkeeper, is possible thanks to the transactional information that they have recorded in our systems,” they noted.

In this way, they highlighted that this initiative seeks to help shopkeepers better manage their inventory in accordance with their cash flows, which will allow them to reduce their dependence on informal financing sources that can affect their profitability and sustainability.

Martín Gaviria, director of Strategy at Treinta, added that the country is in a context where entrepreneurs seek to adapt to market changes and a challenging economic panorama, This solution offers the necessary flexibility to respond to the needs of the traditional channel.

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“This credit alternative represents a great opportunity for shopkeepers, as it allows them to stock their inventory and adapt to market challenges without incurring additional costs or complicated procedures. They can carry out the entire process from their cell phone, without having to leave their businesses, which facilitates their transition to a completely digital environment,” explained this spokesperson.

Taking into account that Treinta’s B2B Marketplace, It has more than 43,000 shopkeepers supplying its inventory; It is expected that many will benefit from this program that allows you to place orders 24 hours a day directly from the main suppliers in the country, eliminating intermediaries and offering products at more competitive prices. This channel has become a key tool to improve operational efficiency and increase business income.

Fintech industry (reference image).

Courtesy – API

“This Marketplace is integrated with the other tools that make up the company’s ecosystem, including a point of sale (POS) system designed especially for small businesses and restaurants. In addition, it has a native integration of dataphones, which allows secure and efficient electronic transactions, all from a single platform,” they concluded.

These experts closed by saying that through accessible solutions adapted to the needs of shopkeepers and MSMEs, the country’s companies must aim to empower these businesses to face the challenges of the market and highlighted that they can to innovative tools and a focus on access to formal financing and digital technologies.