Know SolCrece

Microfinance offers low income people access to basic financial services such as loans, savings, money transfer services and micro-insurance.

Traditionally, banks have not considered poor people to be a viable market.

Different types of financial services providers for poor people have emerged offering new possibilities and over time have increased their product offerings and improved their methodologies and services, as poor people proved their will and ability to repay loans, and their desire to save.

Financial services for low income people have proven to be a powerful instrument for reducing poverty, enabling them to build business and assets, to increase incomes, and to reduce their vulnerability to economic stress.

SolCrece derives from  its founders vast financial expertise and their vision to reinvent the micro-financial industry. This will be achieved through the development of financial solutions based on our customers true financial needs and a customer centric and efficient operation.

SolCrece uses the group lending model where poor people guarantee each other’s loans. Borrowers undergo financial literacy training and must pass a test before they are allowed to take out loans. Weekly meetings with borrowers follow a highly disciplined approach. Although, this is our first approach, our strategy is to let our customers generate a financial history by themselves. We are definetely moving away from village banking. Every customer is different so we are looking to customized solutions.

SolCrece also offers life and funeral expenses insurance to the poor as well as financing for other goods and services that can help them combat poverty.