Savings bank and promotion of a methodology for financing the microentrepreneur sectors in the case Quevedo-Ecuador

Abstract

The evolution of research on financial markets and financing for the microenterprise sector is an important reference for economic dynamization in the city of Quevedo, however at the international level this group of actors has created an analytical framework that offers a more complex understanding of the financial needs of these actors and the limitations they must face from public action. This makes it possible to formulate more specific policies with greater impact and lower fiscal costs, combining direct intervention actions aimed at correcting the operating modalities in those markets that limit access to credit. The Caja de Ahorro y Fomento seeks to improve the granting of funds to the micro business sector, with the purpose of evolving to a larger scale of growth of their businesses in order to have a permanent support in the transactional processes of purchase and sale of products, the micro businessmen whose principle is in the constant search for methodologies that allow them to achieve access to credit in a framework of flexible credit policies that allow extending insufficient information to be subject to financial loans at low costs. Under this analysis in Ecuador there is a large business that reveals the reality of the companies that generate more contribution to the GDP, that the micro companies do not generate; with a participation of around 22,700 establishments that generate 76% of the sales at national level, this allows to evidence the permanence that the micro business sector has in the market.