Micro credit organizations in Latin America

In Latin America there is a number of organizations dedicated to micro credit . Even in Colombia there are several organizations involved in this issue (Cooperative Undertake Fin America Foundation, Santo Domingo, etc). There are no mechanisms to promote them.

 

These are organizations that provide loans to low income individuals at or below the poverty line. The reason that these organizations have flourished in Latin America is due to its high profitability levels that make it a sustainable operation. Not only NGOs are involved in this but also conventional banks. In countries like Ecuador, Bolivia and Peru, conventional banks (Banco Solidario, BancoSol and Mibanco) have managed to expand in the country through a business model that serves the low income population.