Santander Microcrédito, an initiative by Banco Real ABN AMRO, offers small loans to growing businesses that lack access to conventional forms of credit. Through the provision of microcredit, Banco Real ABN AMRO is committed to the economic and social development of its borrowers, and to promoting Brazil’s economic growth.
Santander Bank, a multinational institution based in the Spain, acquired the operations from Banco Real in early 2010. In 2001, Banco Real (ABN AMRO) approached Accion for its professional expertise in launching a microlending subsidiary. Real Microcrédito (as it was known at the time) began operations in July 2002 and disbursed its first loan in the São Paulo favela of Heliópolis the following month. Since 2006, Santander Microcrédito has been expanding its operations in Northeastern Brazil.
Santander Microcrédito is a microlending institution with sole ownership held Banco Santander. For years, Accion has been providing technical assistance to this organization with a focus on credit methodology, product design and management services.
The great majority of Santander Microcrédito clients are working in the informal sector and most run businesses that can be categorized as either commercial and retail or services. The majority of clients receive working capital loans and a small portion applies for fixed-asset loans.
Santander Microcrédito Av. Paulista 1374, Segundo andar, São Paulo, Brazil Tel: +55 (11) 3471 2225