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CloQ´s Theory of Change

nano credito

Business description

 CloQ oers nano-credit (from USD 25) to low income and informal workers (street sellers, cleaners, plumbers, etc) that cannot request loans via formal credit institutions because they either don’t have proof of income, a positive credit score or access to a bank. Low-income families in Latam are using loans provided by credit-card or illegal lenders, on which they are charged up to 500% and 7000% annually respectively. CloQ is starting in Brazil, a market where about 70 million people are impacted. Given that smartphones are widely used in the country and 92% of the households has access to internet via mobile, we created a mobile-only application. This app is specically designed in order to be easily accessible for this niche and allows low-income customers and unbanked to request and receive loans within minutes at any time. We intend to use the concepts of microcredit, including the groups, but everything online. We will also integrate with an e-wallet that works like M-Pesa in Africa, so people can receive and pay the loan without the need of a bank account.


More info


Language : English
Consultant: Adriana Mata
Creation date: Oct, 2022
Content: Theory of change
Country: Brazil