Program designed with very special characteristics to give a chance to those people who have little possibility of obtaining financial support within traditional financing systems.
The program is addressed to productive small and medium-sized businesses, -both individuals or associations, devoted to sustainable, and mainly innovative, economic activities. Those activities should contribute to better quality of life, environmental protection, and gender equity.

Fundecooperación para el Desarrollo Sostenible

Implemented in

  • Latin America / Caribbean
  • Costa Rica

Sectors of activity
Agricultural and Fishery, Environmental Services, Financial Sector, Food & Beverage, Industrial Sector, Tourism

Type of initiative
Financial Instruments & Investments

Type of lead actor
Civil society

Start date
01/02/2006

Shared by

Carolina Reyes

Fundecooperacion para el Desarrollo Sostenible

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Objectives

This financing program was established in 2006 with the objective of facilitating access to credit for people who, for whatever reason, have little possibility of financial support within
traditional financing systems.

It is called "Credito a la Medida or Tailor-made Financing" because some conditions are adjust to each case, for example guarantee, terms and payment schemes.

On the other hand, the program focuses on projects that are different from the traditional and generate a positive impact with environmental and social practices. For this reason, it´s focus on innovative products or services with a consolidated value proposition and promote productive chain, social management and equal gender participation.

The credits must be framed in one of this thematic areas: Agrosilvopastoral Activities, Environmental Management and Clean Technologies, Sustainable Energy and Energy Efficiency, Sustainable Tourism, Gender Equity, Productive Linkages or Public or Private Services, Cultural Value, Climate Change.

Activities

The Tailor-Made Financing Program involves the development of activities focused on:
1. Promotion and dissemination of the program
2. Personal advice to each project by the advisory team
3. Strengthening initiatives through training for clients and stakeholders
4. Technical and financial support throughout the project
5. Encourage of productive chains between customers
6. Strategic alliances with other organizations in order to grant additional facilities to the projects

Impact and Results

Approximately $14 million have been place in financing small and medium credits since the program began in 2006.

- With the total investment, more than 310 projects have been financed, mainly from the agricultural and tourism sectors.
- 83% of the projects are carried out in places with lower social development indexes.
- 87% of the projects financed were developed by the family unit.
- 35% of the total financed projects corresponded to the development of new business ideas.
- 42% of projects are led by women.

Next steps and how to get involved

Fundecooperación expects to continue financing many credit projects to help develop new productive businesses in the country. Any natural or legal person wishing to obtain financing can consult through the program and evaluate the possibility.