November 8

MicroVest Invests in Bayport Colombia to Expand Access to Payroll Loans for Public Sector Employees

MicroVest announced a $4 million investment in Bayport Colombia, a financial services provider specializing in payroll lending for underserved pensioners and public sector employees in Colombia. Bayport’s payroll loans, also known as ‘Libranzas,’ are administered by employers and repaid through automatic payroll deductions, an approach that facilitates individuals with limited credit histories or lower/riskier credit scores to establish and/or re-build their credit profiles.

Photo courtesy of Troy Bridges.

Source: MicroVest (link opens in a new window)

credit scoring, financial inclusion, lending