Saindo da pobreza com microcrédito. condicionantes e tempo de ascensão: o caso dos clientes do crediamigo

Abstract

In this article we investigate some factors which contribute to alleviate the poverty conditions of the clients of the CrediAmigo/BNB, as well as we estimate the velocity of ascension in this microcredit program, which is responsible for more than 65% of the market in Brazil. We use a logistic model for the probability of escaping poverty applied to the clients entering in the program with family per capita income below some traditional poverty lines. We found that the factors contributing to the rise of the poor are no different than the traditional factors for investors in the top of the production scale. That is, a higher probability of success occurs for those more endowed with human capital and productive collaterals. With respect to the features of the borrowings, we verified that short payment periods with median values for the initial credit facilitate the success of the micro entrepreneurs. We also estimated an average of escaping velocity of poverty around 8 and 9% a year during the first five years of program. This finding shows the high efficiency of the program which can be an important reference to development policies with focus both on market improvement and social inclusion.