El Financiamiento De La Microempresa: Algunas Lecciones

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Ohio State University. Department of Agricultural, Environmental, and Development Economics

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The success of a microenterprise program depends upon its positive impact on large numbers of beneficiaries, on its permanence, and on its self-sufficiency. The most important goals are, thus, massification, self-sufficiency, and low delinquency. Programs designed to be small have no impact. Massification requires multiple outlets in several locations, operational efficiency, experience, and outside technical assistance. There are two sides to self-sufficiency: costs and revenues. Costs depend on staff productivity, which can be enhanced by adequate cost accounting. An explicit expenditures policy is required. Revenues depend on large volume, positive interest rates, quick rotation of funds, and savings mobilization. A correct approach compares interest rates charged to those in informal, rather than formal, markets. There are many educational advantages in short-term lending and in savings mobilization. High collection records reflect borrower selection, amounts and terms taylored to the microenterprise, the program's image, collateral substitutes, a firm attitude towards collection, effective controls, and respectful client treatment.