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Facilitated access to finance to promote entrepreneurship

Honduras
06.09.2022
Getting a credit is not easy in Honduras; many people are excluded from the banking system because they have limited financial education and credit history. The Horus Entrepreneurship Fund supports its members through financing so that they can obtain equipment to create and/or strengthen their businesses.

Limited access to financial education, the lack of collateral and credit history exclude many people from the formal banking system. The project Rural Market Opportunities in the Gulf of Fonseca supports the Horus Entrepreneurship Fund created by the Horus association to facilitate access to a credit – investment capital for entrepreneurial ventures. Financing is provided through 50% grant and 50% as a loan at a rate of 15% per year.

Mónica Velásquez (right), president of the CAC Savings and Credit Fund, Horus association.

12 entrepreneurs who are members of the inclusive Savings and Credit Fund "The Bride of the Sun" (Caja de Ahorro y Crédito "La Novia del Sol")  – the majority of whom are members of the LGTBI community – received access to financing through the Horus Entrepreneurship Fund. 

The Fund began operating in 2020, with an initial capital of around CHF 100, and currently manages a portfolio of CHF 5300. It continues to strengthen access to finance in Nacaome, Valle.

Juan Angel Cruz signing his contract with the CAC Savings and Credit Fund for the financing of his business

Through the administration of the fund, the group will be able to use the resources to sustain itself, grow and diversify its financial offer for the benefit of its members and to better serve its community.

Honduras
Entrepreneurial ecosystems
14.01.2021
Financial inclusion without discrimination
In the department of Valle, many people don't have access to financial education and are excluded from the formal banking system due to the lack of credit history. The Horus Association, created by people from the local LGBTI+ community, found a solution to facilitate access to credit for everyone and promote financial rights for all.
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2017 - 2022
Honduras
Entrepreneurial ecosystems, Sustainable tourism
Rural Market Opportunities in the Gulf of Fonseca
The Dry Corridor is one of the most impoverished and economically depressed areas of Honduras. Here, 65% of households live below the poverty line, while 48% are extremely poor and experience high rates of malnutrition and other negative social consequences. Commercial agriculture for export is the main source of seasonal jobs for poor people,...
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