Bridging Credit Access Gaps

Small businesses in Colombia face considerable barriers in accessing credit, especially those without established credit histories. Traditional banking systems often exclude these entrepreneurs due to limited financial records. To address this, Mastercard launched Strive Colombia, an ambitious program targeting support for over 80,000 businesses by focusing on digitalization and capital needs.

The Role of AI and Alternative Data

AI is reshaping how creditworthiness can be assessed by enabling lenders to consider broader indicators beyond traditional bureau scores. Mastercard’s Small Business AI —a conversational, inclusive AI coach—helps small firms build digital capabilities and operational discipline that can strengthen their financial profiles. Mastercard has also announced and piloted this tool as an inclusive AI solution intended to provide personalized, real-time assistance for entrepreneurs navigating day-to-day decisions.

Why this matters: Digital footprints (e.g., payment behaviors and transaction flows) can complement traditional credit data and help thin-file entrepreneurs demonstrate reliability—expanding fair access to finance.

Economic Impacts and Success Stories

Globally, the finance gap for micro, small, and medium enterprises is measured in the trillions, highlighting the scale of unmet credit demand. Estimates place the MSME finance gap around US$5.7 trillion. Reducing this gap requires both innovative data use and better digital tools—areas where initiatives like Strive contribute by improving business performance and resilience.

One notable success story is Rosa Rodrigues, owner of Renacer, a stamping and branding firm in Bogotá. Her journey—featured by Mastercard—illustrates how access to digital solutions and financing supports long-term growth, job creation, and resilience. Read her story: “Impulsando negocios al cerrar la brecha digital.”

Collaborations and Future Implications

In Colombia, Mastercard collaborates with organizations including Fundación Capital and research partners like Common Cents Lab to tailor solutions for regional challenges and strengthen financial resilience. Strive Colombia serves as a blueprint for financial-inclusion strategies across emerging markets within the broader Strive Community.

Conclusion

Mastercard’s efforts are setting a new standard for how AI credit for small businesses can expand access to finance and digital know-how. By enabling faster, fairer decisions, Strive Colombia and Small Business AI are driving meaningful economic and societal benefits—within Colombia and beyond.