Corona Foundation: Enterprise Development Fund Foundation - Sustainability and Microcredit
This document studies the 'Corona Foundation', a private, not-for profit foundation, supporting the financing initiatives of private or public entities that contribute to strengthening Colombia's institutional capacity in four sectors: education, health, business development and community development.
The paper introduces the 'Enterprise Development Fund Foundation' (FDE) as a Corona Foundation program dedicated to improving small-scale company competitiveness and sustainability in the country.
The paper the discusses the Foundation's three strategies of institutional development in the social sector, which are:
- Building management models that could be applied to social organizations;
- Facilitating the design and preparation of public policies through the creation of specialized sector knowledge;
- Promoting organized responsible citizen participation to solve problems and monitor local governments.
The paper details the work of the FDE, including:
- Promotion, training, consulting, credit activities and marketing;
- Organizing shows and fairs at universities, national and international fairs;
- Forging agreements with university students to provide free consulting to the city's micro-entrepreneurs.
The paper studies in detail FDE's organizational and financial structure; the services it offers and its competitors.
The paper concludes by presenting six alternatives for FDE to facilitate microcredit access by micro-entrepreneurs:
- Become a microcredit non-government organization (NGO);
- Create a guarantee fund and become a second-level entity;
- Build an alliance with a financial entity;
- Operate as an integrator;
- Initiate a capital risk fund;
- Create an alliance with the National Guarantee Fund.
