ImpactAlpha, October 26 — Decades of armed conflict has exacerbated access to credit, payments, insurance and other forms of financial services for households and businesses in Colombia’s rural and low-income regions.
Two local entrepreneurs came together in 2014 to launch UNI2 Microcredito (formerly Finamiga) to help bridge those financial gaps. The microfinance institution provides average loans of $1,500 to smallholder farmers, cargo vehicle drivers and other micro-entrepreneurs in Colombia’s post-conflict regions with high-poverty rates.
A $3 million line of credit from Triodos Investment Management’s Microfinance and Fair Share funds will allow UNI2 to expand its loan portfolio.
Half of UNI2’s more than 15,000 current borrowers are women; 40% are first-time borrowers. UNI2 is backed by several emerging market impact investors, including BlueOrchard, Symbiotics and Bamboo Capital Partners.