BancoSol in Bolivia has grown to become a leading microfinance bank in Latin America. For over 30 years, it has been actively involved in addressing the needs for basic financial services for low-income people. The bank has evolved from primarily group lending to 98% individual lending – including carpenters, street vendors, and other micro entrepreneurs that need both working and investment capital for their small businesses.
Bancosol offers a wide range of financial products and services, including savings accounts, microinsurance, ATMs, debit cards and operates very actively with remittances for Bolivians living outside the country who want to send money back to their families. It also provides education programs for clients on basic business skills, such as marketing, accounting, client servicing and retention.