In Colombia, the construction sector contributes 4.7% of GDP, however, up to 11% of the projects do not obtain financing from the banking sector, a fact that prompted the birth of It’s fake. The fintech specialized in this segment will consolidate its operation in Medellín and Bogotá this year.
The company, which offers solutions to the ‘headaches’ in the sector, supports its operation on an important technological platform and on the experience of its partners, former bank employees and builders, which translates into great agility and speed when manage requests.
“Our experience in the construction sector has given us the tools to create a financing model that understands and adapts to the needs of each project, our financing solutions help to make projects profitable by reducing disbursement process times,” he says. Esteban Posada, CEO and co-founder of Áltica.
In the specialty banking segment, the company has processed, through its platform, financing applications for US$50 million, generating pre-approved funds in twenty-four hours and approving applications in less than fifteen days, once all the necessary information has been received. focusing on the need of each particular project.
“We focus on small ‘tickets’, which does not mean small builders, but rather projects that are not as attractive for the banking sector and become an operational drain on both the bank and the builder. At this point we act faster and through technology solving this and other needs”, added Posada.
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