Midi de la microfinance en ligne : Financing Young Entrepreneurs Differently: Insight from Central America

Midi de la microfinance en ligne : Financing Young Entrepreneurs Differently: Insight from Central America

10/03/2021 at 17:00 - 18:00
Location: Online
Organiser: ADA with the support of Luxembourg Directorate for Development Cooperation and InFiNe.lu
Event type: Conference

Midi de la microfinance et de l’inclusion financière.

10 March 2021

The webinar will be in Spanish with translation in English.

Despite the recognition of the role of micro and small enterprises in the global economy, they still face multiple challenges. One of the main obstacles is the limited access to finance, especially for those businesses that are already established and need between EUR 5,000 and EUR 50,000 for their development. Another challenge for these companies is to strengthen their management skills, in particular their financial and accounting management and those related to market access. Moreover, the lack of basic accounting and financial statements is often a major barrier to accessing finance.

Faced with this situation, actors in Central America are developing innovative solutions for entrepreneurs, based on a financing offer combined with support on product development, market access, and management.

Through this “Midi de la microfinance”, ADA will share the experience of some of its partners who promote youth entrepreneurship within the framework of the YES FI (Young Entrepreneurs Sustainable Funding Initiative) programme :

• Alterna (Guatemala) that has launched the impact investment programme “Catalyzer” which allows young entrepreneurs to access financing ranging from 5 to 50,000 EUR and whose repayment is based on the evolution of their turnover.
• Fundación Cacao (El Salvador), an association of business angel investors created jointly with the INSERT/YAWAL incubator in El Salvador. Together, these two actors are developing a support and financing mechanism that combines the concepts of guarantee, loan, and equity for the benefit of small businesses with a high social impact.

The moderator will be Carla Palomares, Acting Head of technical support for microfinance institutions at ADA

The speakers will be:

• Manfred Bauer, Director of Cultivation at Alterna (Guatemala)
• Fernando Morán, Founder of Fundación Cacao (El Salvador) 
• Mónica Ducoing, Central America & Mexico Chapter Manager of ANDE (Aspen Network of Development Entrepreneurs)

This Midi is organised wit the support of Directorate for Development Cooperation and Humanitarian Affairs and the InFiNe.lu.

For more information and to register check the website

Source: ADA