$1.3 Million in Funding Available for Environmentally Conscious Costa Rican Business Projects

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    Small and medium entrepreneurs who want to develop environmentally friendly projects or start an eco-conscious business will have access to $1.3 million in loans to finance these initiatives.

    The credit manager of Fundecooperación, Enrique Meza said that the amounts granted depend on the project and financing needs for each person or business.

    This is a background program called “Credit to Measure”of  the Fundecooperación organization for sustainable development, which seeks to encourage the emergence of new businesses with social and environmental approaches.

    Meza explained that they have three types of loans available to small businesses and entrepreneurs.

    He added that the first type of investment credit allows companies or individuals to buy new equipment and invest in local or long-term assets.

    The second type of loan is short-term and works as a revolving loan that allows the business to invest and receive money over a given period.

    The last type of loan is a type of second tier bank, which allows companies or cooperatives get money to lend to others.

    According to Meza, to opt for a Fundecooperación loan you must fill out an application explaining the project and how much funding will be required. The form can be submitted via paper or email.

    After filling out the form and submitting the required documentation, the institution conducts a study and one month deposit is approved.

    Credits are awarded with low interest rates and favorable terms.

    If you would like more information, you can phone 2225-4507 or send an email to [email protected].

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