Frequently Asked Questions
Who is a customer suitable for Fundecooperación?
A suitable client for Fundecooperación is a productive, individual, or associate micro, small or medium-sized entrepreneur devoted to economical and sustainable activities, mainly innovative. Their activities should contribute to the quality of life, environmental protection, and gender equity.
The financing should be framed within any of the four thematic areas: sustainable agriculture, sustainable tourism, gender equity, climate change and clean technologies.
Should the company have been establish more than a year ago?
Not necessarily. Fundecooperación equally supports those entrepreneurial ideas that have some experience in the area.
What should I do to apply for financing?
Can an individual person apply for financing?
There are no differences between individuals or legal entities. On the requirements sheet you will find columns with the requirements for each case.
How long will the financing procedure take?
The financial analysis and processing starts once all of the information requested on the application forms is submitted. From that date, the process takes from 30 to 60 days – depending of the situation and type of project.
What is the process of the project file before its approval?
The file should be submitted to the Financing Department in order to be delivered to the credit analyst. After that, if the file is approved during the analysis, it is submitted to the Financing Committee. When the financing request is less than ¢20,000,000 it is resolved in this committee. In case of a bigger amount, it is also sent to a committee but it is approved or rejected by the Board of Directors.
What is the interest rate?
We apply a passive interest rate (TBP)+8.75% in colones – annual
Is the interest rate fluctuating?
The interest rate is leveled, and it is revised every three months.
How are the payments calculated?
Are calculated by the total amount of the financing requested.
What type of security can be offered?
The three traditional types of securities: mortgage, pledge, and trust-based security.
Does the pledge cover 100%?
In case of a mortgage, it covers 100%. In case of a pledge, it would depend on its devaluation.