Designing microfinance models for the municipalities of Alto Magdalena, Colombia

Abstract

The result of the research conducted on the vulnerable inhabitants of Alto Magdalena region (more specifically in the municipalities of Apulo, Nilo and Tocaima) and of Carmen de Apicalá (riperian municipality of Tolima) was to determine the causes of their lack of financial resources in order to improve their current living conditions and their daily business activities - their only source of income. Furthermore, models to lessen such necessities have been formulated. The methodology implemented was descriptive and, thus, the statistics obtained from the research were widely used as a source of information during the development of this research study. It is important to highlight that the aforementioned models are implicit in the types of variables identified and used in such models. Throughout the obtained result in this analysis it was possible to determine that the priority needs of the inhabitants of the aforesaid regions are: education, consultancy and guidance on microcredit. To this end, a model in response to each necessity was formulated.