New mobile app will serve as mobile advisor for SMEs

The Inter-American Investment Corporation (IIC) has launched its first mobile app, geared towards business owners in Latin America and the Caribbean. FINPYME is designed to help small business owners and executives improve their competitiveness and access advisory services on the go.

This app comes with a self-assessment tool based on the proven FINPYME Diagnostics methodology which analyzes a company’s strengths and weaknesses across six dimensions: competitive position, environmental and social sustainability, financial position, level of innovation, marketing and client relations, and talent management and corporate affairs. It also provides users with news, events, and other information relevant to their business, all in the palm of their hand.

“We are excited to bring innovative tools to the region” says Gregory Da Re, IIC Chief of the Strategy and Innovation Division. “With the power of mobile technology, we are helping small businesses grow and become more competitive. By continuously engaging with users through the app, we are facilitating knowledge transfer and helping deepen our impact.”

Since its creation in 2000, FINPYME Diagnostics has helped some 1,300 business owners across Latin America and the Caribbean boost competitiveness through tailored advisory services and group training workshops. The new app leverages this combined experience and makes the program’s methodology available on a global scale.

FINPYME is now available for download at no cost on the App Store and Google Play.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling $415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of $5.21 billion. An additional $3.01 billion has been mobilized through cofinancing and syndication agreements.