Empresas Públicas de Medellín: Going Beyond the Basics and Banking the Unbanked

Financiación Social (Social Financing or FS), an EPM program, provides accessible credit to those at the base of the pyramid. The program leverages EPM's business platform to assess credit risk by using clients' utilities payment records. After clients are extended a credit line, EPM bills them through their monthly utility bill. With an EPM credit card, customers purchase energy efficient appliances and building materials for home improvements from allied vendors. EPM reports credit performances to credit bureaus, building a credit history for its clients. In 2012, FS will increase credit access to individuals and begin to offer one- time loans to micro and small businesses (a program named MYPES).