Abstract (Translated):
In Colombia, many companies (over 95 %) are MSMEs, employing over 40 % of the workforce. However, a significant challenge is that 84.5 % operate informally, lacking access to financial markets. This severely limits their financial stability and long-term viability, but 84.5 % are in the informal sector and are excluded from the financial market, which leads to financial difficulties that prevent them from being sustainable in the market. For this reason, it is necessary to offer alternative forms of financing to facilitate the obtaining of resources to develop their investments. Therefore, this article proposes an alternative financing model through P2P peer-to-peer lending or collaborative lending, through an auction scheme of bonds issued by some SMEs located in Bogota city, which facilitates access to resources to these productive units in more flexible conditions.To achieve the general objective, a quantitative methodology was employed. Specifically, the Altman Z-score model was applied to 9,957 MSMEs in Bogotá, identifying 992 low-risk firms as suitable candidates for the auction. A market maker model was then developed, wherein the top-rated enterprises act as resource providers for producers in need of financing under more flexible conditions. This is facilitated through digital platforms that eliminate traditional financial intermediaries and reduce associated costs.Within this framework, it is concluded that crowdlending emerges as a mechanism to stimulate economic activity by channeling funds toward productive ventures and fostering broader participation in the financial system. As Colombian regulation evolves and digital platforms are strengthened, this model has the potential to transform access to financing, support business growth, and contribute to closing structural gaps within the country's financial ecosystem.
