While the country advances in its economic recovery process, several microentrepreneurs face some difficulties in accessing credit from financial institutions. For this reason, some merchants decide to go to ‘drop by drop’ lenders who offer money with abusive conditions and in some cases threaten people’s lives when the debt is not paid..
Given this situation, fintech entities that use digital tools to provide financial services have found a favorable scenario to offer digital financing options to entrepreneurs or microentrepreneurs.
Note taken from www.lafm.com.co, you can see the full note here.