Microcredits to Lead Your Business

• Starting a business involves an investment that cannot always be covered through savings and personal resources. In the search for financing, a microcredit can be a key instrument to keep the numbers in tune when embarking on an entrepreneurial journey.

In his head, the melody of having his own business always played. But it wasn't until July 2024, after twelve years of experience in a music store, that Patricio Duque hit the high note with the opening of Thunder Guitars in Gijón, his store specializing in electric and acoustic guitars. To get the business off the ground, however, he needed to strike the right note with financing. "I had some savings, but they weren't enough to buy materials and build up stock, so I applied for a microcredit from MicroBank," explains Patricio, who offers guitars ranging from 89 euros to vintage second-hand models for 2,000 euros. Currently, although it hasn't been a year since its opening, the first chords sound good. "I've had a very good reception and I'm at ease; I have regular customers and through the website, I've also been able to sell outside of Spain," says the founder of Thunder Guitars, whose main hallmark is personalized advice.

For Alejandra Romero, however, it wasn't her first foray into leading a business. She already had a hair salon in Colombia, where she was born, and in 2021 she started as a freelancer in Burgos encouraged by her partner. It was at the Burgos Chamber of Commerce where she learned about MicroBank's microcredits, something that was decisive in the realization of Tierra Granel, a store that offers a wide variety of bulk rice, flour, nuts, spices, and legumes, emphasizing the promotion of responsible consumption. "Without the microcredit, it would have been impossible," recalls Alejandra, who, after great acceptance by customers, currently has three stores in the three markets of Burgos. For the launch of all of them, she applied for a microcredit from MicroBank, both to cover the costs of the premises and to purchase products. Alejandra recalls that the first steps as an entrepreneur were not easy, "but 2024 ended much better, and I even have two employees, one of whom is my daughter." Additionally, she has received several recognitions from the Burgos Chamber of Commerce and the Burgos City Council and is already thinking about franchising the stores in the future.

Estela Rodríguez, from Vigo, has been a one-woman band in Hangover of Fashion, an online multi-brand store for responsible fashion. After eight years of professional experience in other areas, completing an MBA specialized in fashion, and participating in the Vía Textil and Lanzadera accelerators, she ventured into entrepreneurship with this project. In her case, she turned to a microcredit from MicroBank "to professionalize different aspects of the company, such as communication and public relations, and the management of different advertising channels; as well as to stock up on supplies and maintain a runway that would allow me to manage the company from a more stable point." Currently, under Estela's baton, the business is transitioning to its own brand, and her first creation, a bag designed by her, has just come out of the studio and can also be ordered through her website. "If I guarantee production, I will focus on my own production and stop being multi-brand," explains Estela.

More than 32,200 direct jobs

Thunder Guitars, Tierra Granel, and Hangover of Fashion are just three examples of the 9,541 businesses that started with the financial support of MicroBank last year, compared to 8,621 in 2023. Additionally, CaixaBank's social bank has contributed to the creation of 32,245 direct jobs in 2024, a 13% increase. "Our commitment to promoting economic and social development is firm, and the job creation data we have helped generate encourages us to continue working to create an increasingly positive social impact," explains Cristina González, general director of MicroBank.