Millions of low-income women in Mexico cannot study or start a business because they do not have access to bank credit.

According to the National Banking and Securities Commission, 83% of them don’t have a bank payment history that allows for verification of their payment behavior, thus having their loan applications rejected.

Brief:

WeCapital, seeking the financial inclusion of low-income women in Mexico, asked us to find a way to help millions of them gain easier access to microcredits.

Goals:

• Financial inclusion of over 83% of Mexican women.

•Rebuild the credit histories of more than 35 million low-income women.

•Increase the visibility of gender equality in Mexico.

•Strive for economic autonomy and empowerment for thousands of women in one of the 20 countries that are among the worst countries for women according to the UN (United Nations).

•Support the task of bankarization of the financial sector and government.

Millions of low-income women in Mexico are unable to become entrepreneurs because they do not have access to bank credit. Paradoxically, they are women who have received loans from neighborhood stores all their lives, so, they have a long credit history. Just that these credits don´t appear in the financial information centers, but it does in the accounting records of millions of shopkeepers throughout the country.

We collect information from small neighborhood businesses on the payment behavior of millions of low-income women to build a credit history that guarantees their access to the financial sector and enables them to obtain microcredits and achieve financial inclusion, economic autonomy, and empowerment.

Millions of low-income women in Mexico are unable to become entrepreneurs because they do not have access to bank credit. According to the National Banking and Securities Commission, 83% have no “credit history,” so their loan applications are rejected.

The irony is that the vast majority of women in Mexico and Latin America ensure the survival of their families with loans in small neighborhood stores. They received loans things almost daily for their family’s livelihood and commit to paying them on time and at the end of the week, fortnight, or month, so they have a long credit history.

Our strategy is to restore this credit history so that more than 35 million women, previously invisible to the banking sector, can achieve financial inclusion and economic independence.

Millions of low-income women in Mexico are unable to become entrepreneurs because they do not have access to bank credit. According to the Comisión Nacional Bancaria y de Valores (National Banking and Securities Commission), 83% of them don’t have a “credit history” so their loan applications are rejected.

Paradoxically, they are women who have received loans from neighborhood stores all their lives, so, they have a long credit history.

Datatienda.mx collects this information from the neighborhood businesses and uses it to create a credit history that secures them with the banks and allows them to obtain microcredits, financial inclusion, and economic autonomy.

01/2021 - 12/2021:

• Development and testing to enable proper automation of data.

• The first 1,000 records are collected on the platform, and the first credit histories are recovered with them.

01/2022 - 12/2022:

• datatienda.mx recovers more than 10,300 credit histories the data of more than 50 thousand businesses from all parts of the country.

• The communication campaign was launched in major cities (March).

• 23% of women on the platform (more than 2,300 women) receive microcredits for their businesses ranging from $2,000 to $20,000 Mexican pesos.

• Sessions were initiated with financial institutions in Colombia, Guatemala and Venezuela.

01/2023 - Today:

• datatienda.mx recovers more than 30,100 credit histories the data of more than 140 thousand businesses from all parts of the country.

• 37% of women on the platform (more than 7,400 women) receive microcredits for their businesses ranging from $2,000 to $20,000 Mexican pesos.

•Since the platforms launch, more than 20,100 women have registered to build their credit history.

•Of the more than 20,100 women who have registered on the platform, 37% (more than 7,400 women) have received microloans for their businesses and study plans.

•With Data Tienda, we were able to obtain data from more than 140,000 business owners across the country to financially include thousands of low-income women.

•We restored the economic autonomy and empowerment of thousands of women.

•We have made visible gender inequality in Mexico.

•We have promoted entrepreneurship and job creation in the country.

•We have supported the efforts of the financial sector and the government to make the country’s banking sector more bankable.

•We have reduced the financial sector’s risk margin in popular sectors.