At present, more than 924,000 companies around Chile are clients of BancoEstado. Out of this total, over 355,000 obtain financing from the Bank for their businesses.
- 2% growth of lending (March 2022)
- 920,000 clients among micro and small businesses
- 155,000 clients with Fogape Reactiva Credits (December 2021)
- 320,000 women entrepreneurs in the CreceMujer program (February 2022)
This program, launched in July 2019, was developed by BancoEstado's Microenterprise subsidiary, seeking to promote a culture of entrepreneurship and increase the capabilities of microenterprises through training and contact with a network of public institutions to support their development. "Emprende" provides guidance and networks to micro-enterprises according to their business and life cycle stage in which they are. For these purposes, it has the "Gestores Emprende", executives who provide specialized advice, and the "Academia Emprende".
In the non-financial area, over 306,000 women are registered with the CreceMujer Entrepreneur program while, the Emprende program created to encourage and support the comprehensive development of entrepreneurship through commercial and accounting accompaniment for microentrepreneurs, during 2021 had more than 153,000 entrepreneurs enrolled in this platform of support, guidance and generation of networks for the entrepreneurship, and its website www.emprendebancoestado.cl had more than 4.4 million visits.
Additionally, during the 2020 BancoEstado carried out face-to-face meeting and training activities for EMTs, convening micro and small entrepreneurs in activities throughout the country. It is also worth highlighting the activities aimed at women entrepreneurs that brought together more than 11,000 attendees.
BancoEstado has more than 840,000 microentrepreneur clients (March 2022), of which 308,000 clients are financed and that this portfolio had an increase of 10,000 thousand clients during the first quarter of 2022 and the placements of the microenterprise commercial segment reach $ 1,577 thousand million as of March 2022. In terms of coverage, the bank has 284 platforms.
As of March 2022, BancoEstado has more than 84 thousand current clients, 2 thousand more than at the end of 2021; with this, the total number of clients with commercial credit rose to 47,000 small entrepreneurs.
During the first quarter of 2022, $193 billion were placed, increasing the stock of commercial placements to $2,073 billion, which represents a real annual 10% increase in the commercial balance.
In the case of coverage, in February 2022 it reached 92 platforms in all regions of the country.
Active clients are defined as those who have some asset or liability product with BancoEstado, excluding savings accounts.
According to the National Tax Service (SII), there were 206,024 small businesses with sales in Chile in 2020, excluding the public administration and the financial intermediation sector. Based on the average annual growth rate of small businesses in 2005-2020, it is estimated that, by end-2021, the number had reached 214,000.
The Empresas´segment of BancoEstado consolidates the old Medium and Large Companies segments, now generating the Metropolitan Companies and Regions sub-segments. As of February 2022, BancoEstado has more than 4,270 current clients, of which 1,1239 have loans. Until March 2021, the stock of commercial loans reached $ 2,784 billion and grew by 2.6% per year.
CreceMujer Entrepreneur Program
BancoEstado's CreceMujer Program is a space where women can find guidance, advice and contact networks with public and private organizations. Since March 2015, this program was made available to the entire country, providing different support tools both in person and digitally through its web platform www.crecemujer.cl. In December 2017, the fanpage of the program was created as @crecemujercl on Facebook, a space that made it possible to further strengthen the program's community where more entrepreneurs can connect with each other, get to know each other and generate networks among them. Thanks to alliances with the Ministry of Women and Gender Equity, and organizations such as Mujeres del Pacífico, Comunidad Mujer, UN Women and Women Entrepreneurs, a wide variety of development, training and financial education opportunities have been achieved.
During the year 2021, CreceMujer advanced to consolidate itself as a participatory community with a sense of belonging, proving its impact in the materialization of initiatives such as BancoEstado's support for the 2021 Tourism Woman Entrepreneur Contest, the launch of the "Grow Woman Seal" and the organization of three CreceMujer Fairs, with a total of 69 participants. In addition, the work of the CreceMujer Emprendedora Program Consultative Council, made up of women representatives from various public and private institutions, continued to hold quarterly sessions. Meanwhile, the CreceMujer website went from 14.4 million visits in 2020 to more than 16 million in 2021, while the women registered in the program went from 301.8 thousand in 2020 to 306.5 thousand during the 2021. Regarding access to the financial system, micro and small business banks currently have more than 190.000 women financed as of February 2022.
FOGAPE: Support for financing for small businesses during pandemic
As of 2020, BancoEstado has been an essential actor in the use of the Guarantee Fund for Small Entrepreneurs (Fogape). Indeed, we were the institution that granted the most Fogape-guaranteed loans to SMEs throughout Chile, particularly to the micro and small business segment. The new Fogape Covid programs, approved by Congress in April 2020, and Fogape Reactiva, approved in February 2021, were implemented. Between both funds, more than 318 thousand credits have been granted, which represents 63% of the system's operations , with a placement of US$ 4,562 million for micro, small and medium-sized companies. These resources have been essential to support its sustainability during this period.
The Fogape Covid favored a considerable number of companies to get through the quarantine period without affecting their payment chain and being able to fulfill their commitments. This is how it has made it possible to issue guarantees for more than 283,700 loans, for a financing of approximately US$ 13,500 million until its closing on April 30, 2021.
At the beginning of 2021, through the Fogape Reactiva line, we supported the reactivation and economic recovery of the country through resources destined not only for working capital, but also for investment and debt refinancing. With the experience of 2020, throughout this year we sought to implement various improvements to support more companies. Among these, the relaxation of the Fogape regulation stands out, simplifying operational and collection aspects of the guarantee; increase in proactive offers and massive evaluation processes; attractive interest rates; opening to receive web requests from non-customers of the Bank; and granting of credits through non-face-to-face channels. These last points are reflected in the 32% of operations that were channeled by Microenterprise Banking through the App. Through our website, customers were able to track their requirements and the status of their requests. In addition, communication with them was deployed through email, SMS, social networks and our call center.
BancoEstado reached a 74% share in the Fogape operations of the banking system in the segment of companies with sales of less than 25,000 UF, which demonstrates our commitment to the smallest companies in the country. Considering the Fogape Covid and Fogape Reactiva loans together, BancoEstado ranked first in the industry, managing 63% of the number of loans, which represents 317,603 operations, which meant US$ 4,562 million placed. 67% of these credits were delivered in regions and 40% went to women.
This program, launched in July 2019, was developed by BancoEstado's Microenterprise subsidiary, seeking to promote a culture of entrepreneurship and increase the capabilities of microenterprises through training and contact with a network of public institutions to support their development. "Emprende" provides guidance and networks to micro-enterprises according to their business and life cycle stage in which they are. For these purposes, it has the “Gestores Emprende”, executives who provide specialized advice, and the “Academia Emprende”.
In addition to the guidance provided by our specialized executives called "Gestor Emprende", we have a web portal that provides information according to the profile of each business, www.emprendebancoestado.cl. Through this site, we can provide information on products, financial and business development services of BancoEstado and public promotion instruments, in order to create opportunities, guidance and generation of networks for entrepreneurship. We also provide a training space called Academia Emprende, so that all entrepreneurs can access specific content to support and strengthen the management of their businesses in areas such as Technology, Digital Marketing, Legal and Tax Guidance, Accounting, Business Model and much more!. One of the initiatives to support the reactivation of enterprises was the creation, in 2020, of the "SME Market". This web platform adds the value of being visited by BancoEstado customers, thus expanding the scope of promotion and sales possibilities for companies.
As of November 2020, more than 122 thousand entrepreneurs have enrolled in the Emprende program and of them, 77 thousand micro and small companies have been advised with this model that serves both clients and non-clients, in person or via the web. The entrepreneurs served are concentrated in the areas of commerce (48%) and services (38%). Regarding the stage of the business in which they are: 20% is in operation, 16% in growth, 4% in consolidation, 16% with a business idea and 44% with a project idea.
In addition to the guidance provided by our specialized executives called “Gestor Emprende”, we have a web portal that provides information according to the profile of each business, www.emprendebancoestado.cl. Through this site, we can provide information on BancoEstado's products, financial and business development services, and public development instruments, in order to create opportunities, guidance, and generation of networks for entrepreneurship. We also provide a training space called Academia Emprende, so that all male and female entrepreneurs can access specific content to support and strengthen the management of their businesses in areas such as Technology, Digital Marketing, Legal and Tax Orientation, Accounting, Business Model and much more!. During 2020, more than 25 thousand entrepreneurs from all over the country were trained within the more than 100 talks held on this matter. All the information on Academia Emprende is available at academia.emprendebancoestado.cl.
In addition, during 2021, seven Emprende Fairs were held in alliance with the municipalities of Ñuñoa and Providencia, in which a total of 69 entrepreneurs participated, with an approximate attendance of 11,000 people. Meanwhile, the Emprende program website went from 3.2 million visits in 2020 to more than 4.4 million in 2021, while its participants went from 79.5 thousand in 2020 to 92.7 thousand during 2021.