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Credichapin is a guatemalan company with over 10 years of experience in the micro-finance industry. It has over 80 agencies and 800 employees across the country, The company was created with the mission to foster the development of SMEs and entrepreneurs in Guatemala through affordable products and services such as micro-loans and micro-insurance.
Credichapin's portfolio was affected by the arrival of Covid-19 in Guatemala. Like most of the country's financial institutions, Credichapin was forced to take various measures in order to maintain its sales and avoid an increase in payment defaults. Government restrictive measures and social distancing caused economic constraints affecting the informal economy. For this reason, and despite various management efforts to reduce the level of defaults, delinquencies payments increased.