Articles by Lucas Conrado
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Thursday
November 20
2025Carla Grados-Villamar / Lucas Conrado
Entrepreneur-Friendly Inclusive Finance: A Survey of Brazilian MSMEs Highlights Key Lessons for Lenders
Limited access to traditional credit is a well-known constraint for micro, small and medium-sized enterprises (MSMEs), and in Brazil, impact-focused lenders like Estímulo are successfully reaching these entrepreneurs with inclusive lending approaches. But as Carla Grados-Villamar at 60 Decibels and Lucas Conrado at Estímulo explain, inclusive finance is not just about disbursing loans — it’s about understanding entrepreneurs’ realities and adapting accordingly. They share findings from 60 Decibels' interviews with over 400 Estímulo loan applicants — both those who did and did not receive a loan — highlighting lessons lenders can use to improve business outcomes for borrowers, and prepare non-borrowers for future credit opportunities.
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