CloQ offers access to nano-loans to low-income and unbanked people in order to build a credit history that can be used to (re-)include them in the financial system. CloQ then bridges clients to other financial institutions that would offer higher loans and other financial services that could help them improve their lives.
Around 75% of our clients are women. They are informal MSME owners. The credit was either used as working capital, or to make small investments into their business. In 2019 alone we have saved our clients over BRL 550.000 (EUR 86.410) in interest rate charges that they would have incurred if they got the same loans from predatory loan providers.
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