Banco Cuscatlán and the Chamber of Commerce and Industry of Launch Training Program and Seed Capital in El Salvador for SMEs

Target Audience and Eligibility Criteria

The seed capital program in El Salvador is open to registered companies that meet specific eligibility criteria. These criteria are designed to ensure that the businesses receiving the funding are established and have growth potential. Specifically, companies must:

Be legally registered and have been in continuous operation for at least one year.

Annual sales range between US$50,000 and US$75,000.

Be active participants on the Cuscatlán Crece Contigo platform, which supports online sales and the growth of e-commerce ventures.

The program includes all sectors of the economy, welcoming businesses from a wide range of industries. Whether in retail, manufacturing, technology, or services, companies of various types are encouraged to apply for seed capital in El Salvador. This broad scope allows for the participation of diverse businesses that can contribute to the country’s economic development.

Incentives and Seed Capital Awards

To motivate businesses to enhance their operations and implement modern business practices, the program will offer seed capital in El Salvador to the top-performing companies during the application and training phases. The awards will be distributed as follows:

First place: US$15,000

Second place: US$10,000

Third place: US$5,000

These financial incentives are intended to help businesses make concrete improvements to their operations, such as investing in new equipment, integrating advanced technology, or increasing their capacity for innovation. However, to ensure the funds are used responsibly, companies receiving seed capital must submit documentation of how the money was spent within six months of receiving the award. If businesses fail to provide evidence of appropriate use of the funds, they must return the seed capital in El Salvador.

Focus on Professionalization and Digitalization

The program’s overarching goal is to support businesses’ journey toward sustainable growth. To this end, it includes a series of comprehensive training sessions that will equip entrepreneurs with the knowledge and skills needed to succeed in a rapidly changing business environment. These courses will cover critical areas such as e-commerce strategies, financial management, marketing, and overall business administration. The program seeks to enhance local businesses’ operational efficiency and competitiveness by providing specialized training.

The training will be led by expert instructors with experience in these areas, ensuring the content is relevant and practical for the participants. This professional development aspect is critical to the program’s success, as it will help entrepreneurs improve their current operations and adapt to future trends in business. A particular emphasis will be placed on digitalization as the global economy continues to shift toward online commerce. With the support of seed capital in El Salvador, businesses can implement these newly acquired skills and technologies to modernize and increase their digital presence.

In today’s competitive market, having access to digital tools and strategies is crucial for growth. As part of this effort, the program encourages SMEs to embrace e-commerce platforms, online marketing, and data-driven decision-making. The goal is to prepare local businesses for the future and help them remain relevant in an increasingly digital world.

Quotes from Stakeholders

The importance of this initiative is underscored by the statements of key stakeholders involved in the program. Ximena Robin, Corporate Relations and Sustainability Manager at Banco Cuscatlán, expressed the bank’s belief in the transformative power of small businesses for the country’s economy. “At Banco Cuscatlán, we are firmly committed to supporting microenterprises as a driving force for economic revitalization and job creation in El Salvador. By offering seed capital in El Salvador and supporting the professionalization of these businesses, we aim to help them scale their operations and reach new heights,” she stated.

Nelson Morales, Executive Director of CAMARASAL, also emphasized supporting SMEs as a vital component of El Salvador’s economic and social development. “It is essential that we work together to provide our micro, small, and medium-sized businesses with not only access to capital but also the training and skills that will ensure their long-term success,” Morales said. His comments highlight the collaborative effort needed to nurture a thriving SME sector in the country.

Evaluation Process and Final Selection

The program includes a rigorous evaluation process to identify the most promising businesses. Initially, a panel of evaluators will assess the applications and select the companies eligible for further consideration. These selected companies will then advance to the final evaluation phase, where a panel of independent experts and representatives from Banco Cuscatlán and CAMARASAL will determine the winners.

The evaluation will focus on several critical criteria, including the company’s commercial viability, growth potential, and ability to implement the insights gained during the training. Additionally, the originality of the business concept and the potential impact of the business on the local community will be crucial factors in the final selection. Throughout the competition, companies must document the results they achieve as they apply the knowledge from the training program.

The comprehensive evaluation process ensures that seed capital in El Salvador is awarded to companies that demonstrate the most substantial potential for growth and innovation, maximizing the program’s impact on the country’s economy.

Program Summary

Banco Cuscatlán’s partnership with CAMARASAL marks a significant step toward strengthening the SME sector in El Salvador. By offering both seed capital in El Salvador and a targeted training program, this initiative aims to provide small and medium-sized enterprises with the tools they need to succeed in a competitive global market. Through the program, businesses can enhance their digital presence, improve their operational efficiencies, and build sustainable growth models for the future.

In summary, the seed capital program is a holistic approach to helping SMEs in El Salvador thrive. Beyond just offering financial assistance, it provides businesses with the knowledge, training, and resources they need to adapt to the rapidly changing business landscape. With a focus on professionalization, innovation, and digitalization, this initiative will empower entrepreneurs to scale their operations and achieve lasting success. Banco Cuscatlán and CAMARASAL are fostering a new generation of forward-thinking business leaders who will contribute to the long-term prosperity of El Salvador’s economy. By combining seed capital with expert training, the program represents a comprehensive approach to boosting the competitiveness of local SMEs and ensuring they are prepared for the challenges and opportunities of the digital age.