The eyes of the authorities of the industrialized world and emerging economies are on Peru. Why? Plain and simple because the so-called phenomenon of microfinance is reaching excellent levels of social development that is impacting not only the economy, but the very lives of its protagonists. In other words, in the lives of thousands of entrepreneurs linked to small and micro businesses.
Not surprisingly, now the large commercial banks are approaching the SME or MYPE entrepreneur in order to grant them "fast" loans, even with high interest rates, despite the fact that these users are good payers because they work with the money "in hand" ».
Gone is the pioneering experience of the Piura Savings and Credit Bank, the first municipal entity that had the vision to venture into microfinance in the country.
The system now has twelve savings and loan banks and has become "small banks" for its savers. The experience from Piura, reinforced 25 years ago with the support of GTZ, a German technical cooperation entity, has been and is a landmark for many institutions such as rural savings banks, credit unions, edpyme and non-governmental organizations that are following in their footsteps. Some commercial banks are even emulating the experience of municipal savings banks through the services of many professionals and analysts who worked at CMACs.
However, few are aware of the positive effects of microfinance in the country. First, it stimulates the economic sector as a whole, boosting internal demand, and then, it allows various jobs to be created, thus combating poverty and its related social ills (crime, drug addiction, poor health and business informality).
If we talk about social development, microfinance is a big part of the solution for an increasingly globalized world. Although large companies or international corporations do business with each other, they require SMEs to stimulate the engine of national economies.
Peru has a great opportunity to position itself as a leader in this matter and generate the necessary tools to get out of poverty and achieve the desired economic and social development that the population expects.
