Microfinance and its impact on the commercial sector in the city of Latacunga: a case study of the El Salto shopping center and the closed market in the city of Latacunga

Abstract

All people have the need to obtain economic resources to be able to acquire goods and/or services that satisfy some need or desire, which is why it is necessary to have knowledge about the management of resources. The focus of this research will be directed towards money and the way to get it through microcredits granted by financial institutions such as cooperatives and banks, as well as informal financing with illegal interest rates to which many low-income families turn to.

The following work investigates "Microfinance and its impact on the commercial sector in the city of Latacunga. Case Study: Centro Comercial El Salto and Mercado Cerrado de la ciudad de Latacunga", which will have as general objective to analyze the impact that has had the accessibility of the people of Centro Comercial El Salto to microcredit, research conducted through surveys and data collection to establish the incidence of microcredit to traders, being then the specific objectives, determine the types of financial services, study which are the parameters they choose to opt for a financial institution, establish differences between the money obtained in a regulated entity versus the money obtained at high interest rates illegally. A field methodology has been used to obtain reliable data through surveys and interviews, complemented by a bibliographic methodology that has allowed to obtain verifiable and reliable information from scientific sources necessary for a better understanding of the topic to be developed.