For many Ecuadorians it is very hard or impossible to get a loan in a traditional bank so throughout the country exist cooperatives or microcredit institutions to fill this gap in the system. These cooperatives do sometimes also offer loans similar to banks for buying a houses or cars, though small business loans for the working class to help start or improve their ventures are essential.
As an economics or finance student, we can provide excellent placements within cooperative banks to gain invaluable and rewarding career experience whilst aiding the banks and underprivileged people with different things such as:
- Evaluate applicants and their projects to make sure that their plans are valid and to avoid problems for both the cooperative and the client. Planning is the key to success, and you will be part of a close knit team that ensures every detail is covered to safeguard success for both cooperative and client. Your role will include a variety of tasks such as visits the applicants place of business to understand better their project goals and objectives.
- Reviewing the financial database of the cooperative bank to track people that are potentially struggling with their payment plans to see how to help them if possible so that they can continue with their businesses.
- Some cooperatives are supported by international organizations. As most Ecuadorians don’t speak English, interns might be a great help if needed to look for and contact international organizations on their behalf to find more support for the cooperative bank.