Financial Resources

Financial Resources In Colombia


Entrepreneurs have several sources to begin their search for funding, including:


1. Government organizations


2. Banks


3. Private equity firms


4. Venture capital firms


5. Angel investors


Listed below are some of the most popular entities in Colombia that offer grants to entrepreneurs:


Government Organizations




The Ministry of Commerce, Industry and Tourism provides support for business activity, production of goods, services, and technology, and tourism management.


iNNpulsa Colombia
is a unit of the government of Colombia that promotes business innovation and dynamic innovative entrepreneurship to improve competitiveness and regional development.


“This year [2013] would have a budget of 35 million COP to benefit micro, small and medium businesses. Already in Antioquia, 4,000 MSMEs have accessed the resource, amounting to 12 million COP…It is a contest. The first thing that meets the requirements will be benefited until resources are exhausted.” – Beatriz Daza, Manager of the Fund for Modernization and Innovation for MSMEs




GrantiNNpulsa MiPyme (formerly known as FOMIPYME) supports innovation of new products and services, improvement in products or services, competiveness, and modernization of micro, small, and medium enterprises. Participation is done through open calls, like the National Business Innovation Convocation, until resources are fully allocated.

Amount: 3 billion COP per firm; for the National Business Innovation Convocation: maximum co-finance of 400 million COP per project.

Term: 5 years; grace period of 12 months
How to apply
  • Proposals may provide a development stage and testing phase of the product/service in the market.
  • Application will open the second quarter of 2013
  • Criteria
  • Natural persons or Colombian or foreign legal persons.
  • Natural persons: must be over 18 years of age.
  • SME’s must be in operation for at least 2 years.

    Types of Product/Service Development Projects:

  • Fulfills an unmet need in the market, or seeks to exploit a market opportunity by an innovative approach.
  • Has a significant added value compared to what exists in the market.
  • Has commercial potential.
  • Needs support in the development stage (prototype) to be tested in the market.
  • Contact(1) 7437939- Bogotá




    GrantSeed Capital EDI funds dynamic innovative entrepreneurs.Amount: Co-financed up to 80% of total project budget; 50 million COP to 350 million COP
  • Natural person, reside in Colombia, registered trader with the chamber of commerce.
  • A foreign legal entity shall have duly constituted branch in Colombia.
  • At least 18 years of old.

    Dynamic innovative entrepreneurs are defined as:

  • For more than 3 years of operation, have potential sale of 4 billion COP in year 10.
  • Cumulative initial sales exceeding 400 million COP if less than 3 years.
  • Average operating margin of more than 4%.
  • How to applyN/A
    Contact(1) 7437939- Bogotá




    The National Service of Learning develops programs to enhance social responsibility, corporate training, innovation, internationalization, and knowledge transfer and technology. They have training centers, portable classrooms, prototype labs, and other learning facilities throughout Colombia for professional formation and development.


    GrantEnterprise Fund finance business initiatives that integrate entrepreneurial knowledge and new business development. The fund provides access to seed capital for resources needed for new production units.
    Fondo Emprender opens a call (convocatoria), periodically, with all of the conditions related to the type if the entrepreneurship, the entrepreneur, the closed times dates, the amount of the calls, etc.

    Amount: N/A
    CriteriaColombian citizens, adults, interested in make an entrepreneurship, or entrepreneurs with a 12 months old enterprise. All of these entrepreneurs have to follow one of these conditions:
  • SENA student in any entitled education program, in his practice stage, or graduate students with maximum five years old title.
  • University students who are in the last two semesters of his mayor
  • Professional technician or University graduate with maximum five years old title.
  • PhD, specialization or master student or PhD, specialization or master graduates with maximum five years old title.
  • SENA student from his program called, Rural Young entrepreneurs, with at least 200 hours coursed or graduated students from this program with maximum five years old title.
  • SENA student from his education program for people in violence displacement situation, this student have to course at least 90 hours from this program.
  • How to apply
  • Present a business plan individually or in partnership at the Entrepreneurship Unit or SENA Training Center.
  • Receive advising in the business plan formulation process, the use of the Fondo Emprender platform, and all the information that the entrepreneur needs in order to present his Business plan in any Fondo Emprender calls (convocatorias).
  • Call presentation: evaluation and allocation of resources, execution evaluation.
  • ContactMrs. Gina Lorena Santana Coordinadora Nacional Grupos de Emprendimiento, Empresarismo y Fondo Emprender
    Dirección General
    Calle 57 Nro 8-69, Torre Norte Piso 7, Bogotá Colombia
    Tel.: +57 (1) 5461500 IP 13068- 12020




    The National Guarantee Fund SA allows for access of credit for micro, small, and medium enterprises through guarantees. They support lending to financial institutions that fund projects by individuals and organizations. It is important to recognize that FNG does not provide credits, but supports access to them.




    Bancoldex, the Bank for Foreign Trade of Colombia is a state-owned commercial bank that serves as Colombia’s export-import bank with emphasis on entrepreneurial development. Priority is given to small and medium enterprises.


    GrantLine of credit Bancoldex offers loans to SME’s.
    CriteriaConsult your preferred financial intermediary.
    How to apply
  • Obtain application of loan from a preferred financial intermediary that has a Bancoldex credit quota.
  • If approved, the financial intermediary will present your operation to Bancoldex and request the credit.
  • Bancoldex will then disburse the credit.
  • Contact7420281 Bogotá, Colombia


    Bancolombia is the largest commercial bank in Colombia with headquarter in Medellin. As a full-service institution, Bancolombia provides financial products and services to individuals and corporations throughout Colombia and other Latin American countries.


    GrantMicrocredit Line can be used to finance raw materials, inventory, purchase of machinery and assets, and payments to suppliers.
  • Natural persons or legal entities whose company has no more than 10 employees and annual sales of 250 million COP.
  • Between the age of 21 to 69 years
  • How to apply
  • Submit form F-557A Entrepreneurs Credit application.
  • Photocopy of applicant’s and spouse’s ID cards.
  • Balance sheet, income statement or proof of respondent.
  • Photocopy of RUT possess.
  • F-557A F-557B or completely filled out, forms established by Bancolombia.
  • Chamber of commerce or trade register.
  • Photocopy of property tax or certificate of release (in case of real estate or require certification).
  • Central Consultation internal and external information.
  • ContactMedellín - (57-4) 510 90 00 Bogotá - 57-1) 343 00 00


    BBVA Colombia Banco Bilbao Vizcaya Argentina, SA is one of the two largest banks in Spain with operations in over 30 countries.


    GrantCredipyme is a credit line to meet working capital requirements or investments in small and medium enterprises. Amount: $10 million COP to customer’s ability to pay; *100% of working capital needs; *up to 70% of investment projects

    *For working capital, fund must be applied to:

    >Purchase of inventories.
    >Payments to suppliers.
    >Purchase of raw materials

    *For investment projects, fund must be applied to:

  • Purchase of equipment/machinery.
  • Expansion and adaptation of plant.
  • Research and technological development.
  • Purchase of fixed assets.
  • CriteriaWorking capital loans with terms up to 24 months.
    How to applyN/A


    Banco de Bogota is the first commercial bank established in Colombia.


    GrantCredi-Progress is a line of credit for entrepreneurs for used in working capital and/or purchase of fixed assets. Amount: $800,000 to $25,000,000 Term: 3 months to 36 months.
  • Having a productive business sectors:

  • Trade
  • Production
  • Service

  • Operating time at least 1 year.
  • How to apply
  • Request CR 215 financial services.
  • Promissory Note and Letter of Instructions.
  • Photocopy of the writ extended to 150%.
  • Minimum requirements tailored to the characteristics of your business.
  • Proof of age with citizen identification.
  • ContactN/A


    Banco Caja Social is a social foundation that promotes social responsible management. They offer financial services to business activities that seek to alleviate poverty in Colombia.


    GrantCredit for Working Capital finances inventory, financing portfolio, payroll, substitution of liabilities, equipment repair and coverage of costs and expenses of production or marketing goods and services. Amount: Varies Term: up to 36 months.
  • Natural person or legal person.
  • Activity running for 12 consecutive months.
  • Between the age of 23 to 70 years.
  • Companies must have no more than 10 employees with maximum monthly sales of 27,201,600 COP.
  • Positive reports from credit bureau.
  • How to applyFill out application

  • Natural person:

  • Photocopy of ID card
  • If a respondent: bank statements of at least 3 months and tax returns for the last 2 years or declaration of VAT sales tax.

  • Legal person:

  • Photocopy of ID card
  • Original certificate of existence and legal representation issued no more than 60 days.
  • Income statement for the last 2 years.
  • Financial statement for the last 2 fiscal years (must be signed in original by the legal representative and accountant).
  • ContactN/A


    Private Equity Firms


    Private equity firms invest into private firms or buy out of public firms. They make medium to long-term finance (5-10 years) in return for equity of a company. Capital is raised by the limited partners or financed by debt.


    Venture Capital Firms


    Venture capital firms invest in early-stage, high-potential, high-risk companies. In return for the capital, venture capitalists usually acquire a large control of the company decisions and a significant portion of its equity.


    Private Equity Firms Venture Capital Firms
  • Medium to long-term finance.
  • Acquire equity of firm.
  • Invest in control environment.
  • To optimize structure.
  • Value creation from top-down.
  • Focus on operational efficiency.
  • Medium to long-term finance.
  • Acquire equity of firm.
  • Invest in chaotic environment.
  • To promote disruptive innovation.
  • Value creation from bottom-up.
  • Focus on human motivation.

    Click HERE for a comprehensive chart of Private Equity Firms and Venture Capital Firms in Colombia





    Angel Investors


    Angel investors are businesspersons or successful entrepreneurs who invest small amounts—usually as a one-time seed money or an on-going support—to early-stage ventures. In addition to funding, they add value by bringing experience, knowledge, and contacts.


    “In Colombia an investor think different from for example Silicon Valley or NY, here the people are more traditional, and they are starting to see new opportunities with all the new startups that are emerging. They normally are looking for a good business models, scalability of the business, a clear market niche, teams with attitude to be coachable, a clear formula for creating value, they want to see numbers, see the capacity of the business to generate cash flow” Juan Manual Palacio, Financial Management Coordinator of Chamber of Commerce of Bogota.


    “Access to the few informal angel investors, most of whom are seasoned and successful executives interested in supporting entrepreneurship and the formation of new ventures, is correlated with close-tied social networks. Little to no information is publicly available about angel investors´ profile, evaluation process, expectations, and track record.” Juan Andres Garcia Alvarez, former Consultant of Zeus Capital Partners




    “The lack of early stage investors involved in the Colombia tech scene is a longstanding gripe in the region, especially given the amount of old wealth. Too little of that wealth is being recycled in the next generation of local entrepreneurs. We want to get more of the region’s wealth invested in local startups, give aspiring investors the knowledge available to help create innovation, more wealth and build a global sustainable future” Tugce Ergul, Startup Labs Director.




    Bavaria Foundation of the Bavaria Brewery (a subsidiary of SABMiller) in Colombia has an Angel Investors Network that is promoted and supported by the Inter-American Development Bank (IDB). They also have an Entrepreneurs Network, in which they provide seed capital through the program Destapa Futuro.


    Amount25,000 USD to 250,000 USD per company.
    ContactBogotá – 2755505 The rest of the country - 018000526555
  • Colombian citizens or permanent foreign residents.
  • Over 18 years of age; hold a citizenship ID card or foreign residency ID.
  • How to applyIn order to access Bavaria’s Angel Investors Network, one must participate in the Destapa Futuro program.

  • Enroll in Bavaria’s Entrepreneurs Network.
  • If selected for an interview, you will receive further information by email on the next steps.
  • Selected candidates will be trained for one month (in person and online) to prepare for Angel Investors meetings.
  • Give individual presentation (winners will receive speed capital as a price in regional graduation ceremony).

    Investment Network Capitalia Colombia provide investment resources to early-stage ventures, under an investment profile given by the angel investors. The network is backed by Capitalia Colombia, an investment and financial firm.


    AmountOver 80 million COP
    CriteriaBe in the following sectors:

  • Health Sciences
  • Biotechnology
  • Environment
  • Applied Engineering
  • New materials
  • ICT – Software
  • Food Technologies
  • How to apply
  • Register an executive summary.
  • If chosen, prepare for the preliminary presentation (no more than 15 minutes).
  • Attend Evaluation Committee
  • Validation or structuring investment case.
  • Participate in Investment forum.
  • Tracking approach and negotiation process.
  • Contact(+57-4) 4446644


    ICT Investment Network Hub Bog offers networking opportunities, knowledge, and capital to internet-based ventures in information technology.


    Amount40 million COP to 1 billion COP
    How to applyN/A


    Angel Investors Chamber of Commerce of Bogota is created from an agreement between the Chamber of Commerce of Bogota and CREAME [], a business incubator in Colombia. The network funds projects and business initiatives with the highest growth potential in the region.


    Amount100,000 USD to 500,000 USD
    How to applyN/A


    AngelList is a platform for start-ups. They provide a list of angel investors in Colombia for start-ups to connect (via LinkedIn) and follow (via Twitter, Facebook, and LinkedIn).


    How to applyN/A



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