1、The SME Access to Digital Finance Study Tania Ziegler,Felipe Ferri de Camargo Paes,Cecilia Lpez Closs,Erika Soki,Diego Herrera and Jaime Sarmiento A Deep Dive into the Latin American Fintech EcosystemContentsForewords.6Research team.9Research partners.10Acknowledgements .121.EXECUTIVE SUMMARY.132.IN

2、TRODUCTION.152.1.Study rationale.152.2.Report structure.153.METHODOLOGY.163.1.Data sources.163.2.Taxonomy.173.3.Data sanitization,verification and analysis.194.OVERALL PROFILE OF MSMEs.214.1.Participating countries .214.2.Legal structure.214.3.Size and full-time employees .224.4.Trading duration.224

3、.5.Sector.234.6.Gender,education and age of Chief Executive Officer or Managing Director .245.OVERALL USE OF ALTERNATIVE FINANCE BY MSMEs.255.1.Verticals:models encompassed in this study.255.2.Amount borrowed or raised by MSMEs through a digital financial services platform .255.3.Previous funding ex

4、periences of MSMEs .285.4.Analysis by model.296.P2P/MARKETPLACE LENDING.306.1.Profile of MSMEs.306.2.Borrowing experience .376.3.Funding outcomes.407.INVOICE TRADING.457.1.Profile of MSMEs.457.2.Borrowing experience .527.3.Funding outcomes.558.INVESTMENT CROWDFUNDING:EQUITY AND REAL ESTATE.598.1.Pro

5、file of MSMEs.598.2.Issuer experience.668.3.Funding outcomes.709.NON-INVESTMENT CROWDFUNDING.739.1.Profile of MSMEs.739.2.Issuer experience.809.3.Funding outcomes.8310.IMPACTS OF COVID-19.8510.1.Business closures.8510.2.Government assistance.8510.3.Covid-19 platform assistance.8611.COUNTRY FACTSHEET

6、|ARGENTINA.8912.COUNTRY FACTSHEET|BRAZIL.9413.COUNTRY FACTSHEET|CHILE.10014.COUNTRY FACTSHEET|COLOMBIA.10615.COUNTRY FACTSHEET|MEXICO.11116.COUNTRY FACTSHEET|PERU.11717.CURRENT REGULATIONS OF ALTERNATIVE FINANCE IN LATIN AMERICA AND THE CARIBBEAN.12117.1.Argentina.12117.2.Brazil:equity crowdfunding.