Microcredits, the Fuel for Female Entrepreneurship

‘Is it for your husband?’ is the question Luciana de Jesús was asked every time she sought information about training as a varillera or dent repair technician. Yet, the disbelief of those who questioned her was far from an obstacle for this entrepreneur, but rather accelerated her motivation. Luciana, who moved from Brazil to Spain in search of a better life, always felt drawn to professions more typically associated with men, but it wasn’t until her husband lost his job that she decided to take the plunge into entrepreneurship. She researched the skills needed to become a varillera and, realising that the trade required precision rather than strength, she trained in this craft, which involves the hand repairing of certain damages and dents in the sheet metal of any vehicle, avoiding the need to replace entire parts. Today, thanks to her efforts, the support of the Red Cross Impulsa program and the financing provided by MicroBank, Caixabank’s social bank, Luciana proudly stands as Madrid’s first female varillera and owns her own workshop, Ghanauto.

Many kilometers away from Madrid, in Mijas (Málaga), another business has also started up thanks to a microcredit from MicroBank: Sanara, a beauty centre specialising in laser hair removal treatments, body care, and aesthetic medicine. The business is run by Aurora García and Sara Reina, two former colleagues who lost their jobs at a beauty center, prompting them to start their own business and put into practice their sector experience of over 12 years.

The Sanara team, a business promoted with the support of MicroBank by entrepreneurs Aurora García and Sara Reina in Mijas (Málaga).

Another microcredit was also the driving force behind Loft Flower House, a florist in Málaga that operates both online and in a physical store. It was precisely the financing from MicroBank that allowed its owner, Yuliia Verko, to refurbish and open the shop. The establishment, which delivers across the Costa del Sol, primarily sells bouquets and floral arrangements but also offers gift baskets and other items such as plush toys, balloons, and chocolates. 

Entrepreneur Yuliia Verko on the opening day of her business Loft Flower House.

Ghanauto, Sanara, and Loft Flower House are just three examples of women who brought their business ideas to life thanks to a microcredit from MicroBank. Last year, CaixaBank’s social bank provided €111 million in financing to women, resulting in nearly 7,000 entrepreneurial projects led by women across Spain. ‘We know firsthand women’s talent, and at MicroBank, we work to provide them with the tools needed to achieve their ambitions in the workplace,’ says Cristina González, general director. ‘Additionally, this type of financing drives positive social change, benefiting society as a whole’.

The Profile of Female Entrepreneurs Through Microcredits 

Although female entrepreneurs come from all backgrounds, the most common is a woman aged between 36 and 49, without a university degree, living with a partner and children, and who decided to start a business upon identifying an opportunity. By sectors, there is a clear preference for professional services, retail, and to a lesser extent, hospitality and dining. Last year, the average amount requested by women in microcredits from MicroBank was €15,870.