Providing the necessary basic knowledge about the variety of financing mechanisms, both those offered in the country and international best practices, and learning about the analyses used by financial institutions to decide whether to approve or reject credit applications, are some of the objectives of this second module of the learning pillar called "To the Bank" of the Businesswomen Making Progress Program, EMPRO Honduras.
The class sessions have been enhanced by the participation of local banking executives and experienced professionals in the various topics addressed, from how to work on the more technical and financial elements that must be considered when preparing a financing request, to how guarantee funds operate or the impact of macroeconomic indicators on business, among others.
We are grateful for the participation of Regina Rodriguez, Vice President of Credit of LAFISE Bank, Angel Alberto Arita-Orellana, economist, National Autonomous University of Honduras, Gaspar Meza, head of operations of the Department of Business Intelligence and Guarantee Funds for the Honduran Bank of Production and Housing (BANHPROVI), as well as the participation of Lucy Sauceda, Executive Vice President of Commercial Banking of Banco Atlantida and Nastya Rivera, Coordinator of the BAC Women's Program in Honduras.
During both Al Banco modules, two tutors, Ary Avila and Federico Larroca, have guided the entrepreneurs in their learning process, reviewing and providing feedback on their work.
The main objective of Al Banco's training pillar is to increase the knowledge and interest of women entrepreneurs who lead SMEs regarding the advantages of accessing financing to accelerate their businesses, expand markets and distribution channels. In the different sessions it was confirmed that one of the main barriers for this market segment to approach and access financing continues to be the lack of information between actors, in this case, between businesswomen and banks and vice versa.
According to Gracia M. Barahona, Manager of EMPRO Honduras, the Program's design implicitly sought to help overcome this limitation and, judging by the testimonies of the businesswomen about EMPRO, it has succeeded in doing so. Gracia believes that the objective of bringing these two actors closer together and clarifying doubts has been achieved, but, above all, it has given the entrepreneurs the opportunity to express what they are really expecting from the bank.
EMPRO began with its first module in October 2022, where participants had the opportunity to take pre-selected courses from the LEADS Women's Accelerator and their respective innovation and finance Bootcamps, as well as courses to gain key skills and knowledge to strengthen their businesses, expand distribution channels and open new markets.
EMPRO was developed by INCAE Business School under the Women's Business Growth initiative and has the financial support and accompaniment of the PriceSmart Foundation and Cargill. Its objective is to strengthen women's business knowledge through a series of training courses that will contribute to the transformation and scaling of their businesses, promoting access to new markets and financing. It also has the support of national partners and Mastercard, with whom INCAE has joined forces to design several training products for women in the Latin American region.
For more information, please contact Mauren Esquivel at mauren.esquivel@incae.edu or Gracia María Barahona, EMPRO Honduras Program Manager at gracia.barahona@clacds.incae.edu.
