Offering small business credit to Mexico’s underserved SMEs
Konfio is facilitating growth opportunities for SMEs and sole traders in Mexico, which have been severely constrained in the past – many of its customers, even though creditworthy, have not had access to formal financing before. A large portion of Konfio’s SME customers are sole traders and a majority are first time users of formal financial services and has no formal credit scoring from before. Konfio offers unsecured loans to these small businesses where traditional banks continue to shun them.
41% are sole proprietors
30% are female business
17% are young business owners under the age of 34