Fintech company Juancho Te Presta plans to keep its commitment to helping people in Colombia access credits.
School expenses are inevitable at the beginning of each new year. According to figures from the National Federation of Merchants (Fenalco), for 2023, specifically in the capital of Colombia and in Cundinamarca, a growth of 18% in school supplies was recorded, a representative increase that arises as a result of the rise in the dollar, inflation and the crisis linked to the shortage of raw materials.
Read more about the Colombian fintech company that plans to help the financing of education in the country and read the latest financial news of the day with the Born2Invest mobile app.
Thus, the average expenditure in this category is expected to be $350,000 pesos in materials, excluding books
Meanwhile, regarding enrollments and registrations in technical, technological, and university careers, the data presented by the National Administrative Department of Statistics (Dane), found that in 2022 there was a variation of 5.72% and, taking into account that inflation rates are not the best, since they are above 13.12%, it is most likely that during 2023 these data will continue to rise.
As a result, many people resort to applying for credit. And in that sense, different Colombian fintech companies, such as Juancho Te Presta, have sided with them as a financial solution by offering microcredit alternatives, in an easy, safe, and fast way, since people usually obtain the disbursement of the capital within a few hours of completing the procedure.
Juancho Te Presta will move 20,000 digital loans for $10 million this year
“In the last three years, from Juancho Te Presta we have managed to disburse about $3 billion pesos in loans to finance purchases and payments in the education sector, as expenses of this type, have various facets and range from families buying supplies for their children, to people who pay for a diploma or course to improve their professional profile,” said Juan Esteban Saldarriaga, CEO of Juancho Te Presta.
In addition, the entity assured that, for this year, it expects that the figure will amount to an average of $7 billion.
Under this ideal, more and more fintech companies are seeking to counteract problems such as desertion, as the company assures that there are several aspects related to education that require financing, so they try to provide support in sectors and aspects that other entities do not provide.
That is taking into account that since 2022 a maximum increase of 10.84% in tuition fees for public and private schools and universities has been established. According to official figures from the Student Enrollment System of the Ministry of Education (Simat), the percentage of students who reach the last year of high school is reduced to almost half of those who started their first grade of elementary school.
Looked at it another way, in 2012 about 534,178 young people graduated, a similar number of students who are in eighth grade in 2018, representing a loss of 194,917 students (26.73%) in four years.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in LR LA REPUBLICA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [uMobix Affiliate Program Review]
This week, we're covering everything from hustle culture to spying on kids, making this affiliate digest look like it has...
Stanford University Returns Millions from FTX
Between November 2021 and May 2022, Bankman directed donations of more than €5.5 million from FTX Group to Stanford University....
Biova Project Launched an Equity Crowdfunding Campaign on Mamacrowd
Biova Project makes deals with players in large-scale distribution and production to recover, store, and transform unsold food, or food...
Novo Nordisk Plans to Open a Tech Headquarters in Spain
Novo Nordisk increased its profit by 42.5% in the first half of 2023, reaching 39,242 million Danish crowns (€5.26 million)....
Immorente Invest Maintains its Financial Stability
Although the occupancy rate has fallen from 92% to 90.2% compared with the end of 2022, the company expects this...
Crypto2 weeks ago
PayPal Can Now Be Used for Deposits and Withdrawals at Kraken
Markets4 days ago
Rice Closed Higher Last Week in Response to a Week of Solid Export Sales
Crowdfunding2 weeks ago
Financial Boutique Aestas Raises 1 Million on CrowdFundMe
Cannabis2 days ago
The Netherlands to Launch Cannabis Legalization Pilot Program in December 2023