How the Caribbean’s best bank for SMEs built an ecosystem
When Banreservas was named the Caribbean’s best bank for SMEs in Euromoney’s Awards for Excellence 2026, the recognition marked more than a strong year of lending. It reflected a decade-long effort to reframe what an SME bank can be.
At the centre of that effort is Fomenta Pymes, the bank’s flagship SME platform. In the last eight years, it has disbursed more than DOP285 billion ($4.7 billion) and served over 157,000 small and medium-sized enterprises. Yet Banreservas argues that the platform’s real distinction lies not in the volume of credit it extends, but in everything that surrounds it.
Financing is only the starting point
Fomenta Pymes was conceived as a comprehensive value proposition rather than a financing line, combining credit with transactional products, insurance, specialised channels, financial education and digital tools. The logic is that an SME’s needs rarely stop at access to capital.
Many small and medium-sized enterprises struggle not because of insufficient revenue, but because of weaknesses in financial management. Supporting them with more than credit – with education, tools and protection – strengthens not only their ability to access resources, but their capacity to manage them and grow sustainably, says Dr Leonardo Aguilera, chief executive officer at Banreservas.
That breadth is backed by reach. State-owned Banreservas operates the largest banking network in the Dominican Republic, with a presence in 31 provinces and the Distrito Nacional (DN), allowing it to support SMEs well beyond the main commercial centres. Its annual Expo Pymes fair offers preferential financing – with rates starting at 10.25% – that businesses can access digitally through the event’s website or via Alma, the bank’s virtual assistant on WhatsApp.
Lessons built for the region
It is the non-financial layers of the model that Banreservas believes are most transferable across the Caribbean, where economies face similar constraints on SME finance. Chief among them is resilience. The bank has integrated specialised cover such as multi-risk and business interruption insurance directly into its SME proposition – protection designed for a region exposed to climate shocks.
A crucial lesson for the Caribbean, which is highly vulnerable to hurricanes and climate change, is the integration of specialised insurance. Products such as multi-risk and business interruption cover protect an SME’s investment against the events that can paralyse its operations overnight, says Aguilera.
Alongside protection, the bank promotes green financing for renewable energy and sustainable practices, helping smaller companies lower operating costs while formalising their operations through technical education and legal support.
Solving the liquidity squeeze
In 2025 the bank added Soluciones de Capital, a cash-advance facility aimed squarely at the working capital gap that constrains so many small firms. Businesses that accept card payments can receive an advance within 48 to 72 hours, without posting real estate or fixed assets as collateral. Repayment flexes with trade: the merchant repays through a percentage of card sales rather than a fixed monthly instalment.
Capital Solutions addresses a critical need – access to fast liquidity without waiting for traditional collection cycles. If a business sells less on a given day, it repays less. There is no pressure from a strict monthly payment, says Dr Aguilera, Banreservas.
International partnerships have extended what the bank can provide, particularly for underserved segments. An agreement with the US International Development Finance Corporation (DFC) supports loans of up to $84 million, backed by guarantee coverage of $42 million, with a focus on women-led businesses and sustainable sectors.
International partnerships have expanded our capacity to offer financing on more competitive terms, particularly to women-led businesses and sustainable sectors. Banreservas already leads financing for women in the Dominican Republic, and these facilities let us go further, says Dr Leonardo Aguilera, chief executive officer at Banreservas.
The claim is grounded in data: women-led businesses account for more than 42% of the bank’s SME lending. That support is reinforced through the Banreservas Women’s SME Summit and the Cree Banreservas pre-acceleration programme, which offers mentoring and seed capital of up to DOP4.7 million for innovative, often women-led ventures.
Anchored in the wider economy
Banreservas frames its SME strategy as an engine for national development. Small businesses dominate sectors central to the Dominican economy – including tourism, where the bank provides around 45% of sector financing, as well as agribusiness, renewable energy, commerce and the creative industries. By channelling credit, education and management tools into these value chains, the bank links SME growth to entrepreneurship, financial inclusion, and environmental development, in line with the country’s National Development Strategy.
The next phase leans further into technology. Banreservas plans to expand ERP and AI-based tools that help owners manage and grow their businesses, deepen financial education, and build on partnerships focused on women entrepreneurs and clean energy. The ambition, the bank says, is a model that is more digital, more inclusive and more resilient – and, increasingly, one the rest of the Caribbean may look to.
