Microcredits and entrepreneurship
In Argentina, Brazil, Chile and El Salvador, the Bank finances the projects of more than 253,000 entrepreneurs in order to help low income families undertake sustainable business activities that, in turn, also contribute to job and income creation for the rest of the community.
In addition to microcredit, Banco Santander also promotes job creation and economic development through entrepreneurship programs that support young entrepreneurs. Thus, the program ideas that employ (Argentina), Prêmio Parceiras em Ação (Brazil), National Businesswoman Award (Chile), or Social Enterprise Development Awards (UK) among others, contribute to income generation and sustainable development, fostering entrepreneurship and increasing social engagement.
Santander Micro credits Brazil
Santander Micro Credits encourages growth in small businesses, thereby enabling the least favour sectors of society to merge from poverty. Loans are mainly made to informal micro companies that are unable to obtain loans. More than 70% of micro credits go to businesswomen who, in groups of five to six, receive loans of an average amount of between EUR 700 without the need for additional guarantees.