Unión de Crédito Concreces SA de CV - Working capital for portfolio expansion in Oaxaca and southern Mexico
Unión de Crédito Concreces SA de CV
Working capital for portfolio expansion in Oaxaca and southern Mexico
Unión de Crédito Concreces SA de CV (CONCRECES) is a well-established credit union supporting micro and small enterprises in the State of Oaxaca and, to a smaller extent, in Puebla, Veracruz, Chiapas and the State of Mexico.
There is a high level of poverty in the State of Oaxaca, and almost half of its population works in the primary sector. Access to banks is problematic, with one bank per 30,000 inhabitants versus the national average of 12,000. Hence, many small enterprises struggle to finance their businesses.
Oikocredit chose to support CONCRECES as it is a member-based organization that plays an important role in the local economy. The loans it provides are raised by fellow members which, among other things, ensures competitive interest rates and repayment commitment among borrowers.
Based on the average size of the loans it provides, CONCRECES expects to be able to fund around 60 small enterprises, their staff and families.Download this project as a PDF