• Costa Rica Coffee Guide

Foundation offers $1.3 million in funding for sustainable development projects

February 19, 2015

The Costa Rican foundation Fundecooperación para Desarrollo Sostenible this week reported they have ₡750 million ($1.3 million) available to finance small- and medium-sized businesses to help improve the quality of life or promote gender equality.

“The funds are part of our Custom-Made Credit Program aimed both at individuals and companies with environmentally sustainable projects or businesses,” said José Montero Peña, from the foundation’s Credit Promotion Department.

Under the program funds are available through three separate loan types. The first, investments loans, offers credits of up to ₡65 million ($120,000) for buying property, expanding facilities or acquiring equipment. The credit line offers up to ₡40 million ($75,000) for working capital and short-term investments. Second-tier loans grant funds up to ₡200 million ($377,000) to associations, cooperatives and other organized groups for funding business opportunities among associates or community members.

The foundation mostly aims at benefiting businesses or projects related to agriculture, forestry, sustainable energy, clean technologies, sustainable tourism and gender equality, among others.

Recently it opened a new credit line for “cultural value” businesses, where individuals or groups can apply for projects involving manufacturing or marketing traditional Costa Rican goods and services.

The study and approval process of an application takes on average 40 days. Credit options are available for both Ticos and expats as long as they meet the foundation’s requirements, Montero said.

“There are various projects by expats currently in operation. Among them are tourism, recycling and souvenir manufacturing businesses,” he said.

Fundecooperación launched its credit programs in 1994 and since have invested approximately $35 million in over 300 projects promoting sustainable development.

A full description of their credit options is available at fundecooperacion.org. For more information, call 2225-4507 (English-speaking staff is available) or email:  info@fundecooperacion.org.

You may be interested

Costa Rica tourism extension: Clarifications and details
Costa Rica
2837 views
Costa Rica
2837 views

Costa Rica tourism extension: Clarifications and details

Alejandro Zúñiga - March 3, 2021

The Immigration Administration (DGME) has issued the decree formalizing the extension of tourism visas until June 1 for visitors who…

DIMEX required for vaccination, Costa Rica says
Costa Rica
16397 views
Costa Rica
16397 views

DIMEX required for vaccination, Costa Rica says

Alejandro Zúñiga - March 3, 2021

Costa Rica began administering coronavirus vaccines in December 2020, and the country hopes to inoculate its entire adult population. We've…

Campaign to help families, businesses in Guanacaste
Business
1250 views
Business
1250 views

Campaign to help families, businesses in Guanacaste

The Tico Times - March 3, 2021

Costa Rican authorities this week relaunched a campaign to support businesses and provide meals to tourism employees who lost their…