Micro-credits for Baru Island entrepreneurs

How does having access to microcredits with low interest rates and socio-family and microbusiness support, impacts an entrepreneur’s life?

Here is Antonio’s experience:

Peralta, as his colleagues call him, is an artisan who has been working with pearls, seashells, nylon and handmade jewelry for more than 20 years. He started as an assistant, making crafts for others and as time went by, he started his own business. Later, thanks to his charisma and talent, he managed to obtain a space to sell his products in a hotel located in Barú Island.

In 2020, Antonio decided that it was time to invest and grow his business, applied to the “Microcredits for Barú Island entrepreneurs” project, and access to a $3.000.000 loan, which he paid in 24 months. The payments were defined considering his income and debt capacity.

He invested the entire amount in working capital, which allowed him to diversify his products and make his business more attractive. Also, during this time, Antonio actively attended the socio-family and micro-business sessions, on topics such as market research, marketing strategies, basic accounting, inventory, costs, family economic guidelines, savings strategies and life plan.

In 2022, after completing the payment of his credit and successfully completing the advisory sessions, Antonio, with great determination, managed to triple his sales, increasing his profit in more than 200%, and tripling his inventory and initial assets. He incorporated new sales lines in its business, such as soft drinks sales and dataphone service, conquering other market segments and being an example among other entrepreneurs in Barú town.

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