Costa Rica School Project -- Micro Lending Facility

Micro Lending Facility

Costa Rica School Project, Inc. Announces Micro Lending Project

San Jose, Costa Rica, September 1, 2012 - Seth Derish, president of the Costa Rica School Project, Inc., announced today the formation of the Micro Lending Facility (MLF), a small non-profit loan program to service the rural community of Zaragoza de Nicoya, Province of Guanacaste. The initial capitalization of this project will be $10,000, which will provide up to 20 low interest loans with maximum terms of 24 months and $500 each. 

The MLF has already received over 20 applications from local residents (many are first time borrowers)  who are seeking funds for the improvement of their coffee farms, purchase of more livestock, and some new projects such as a home sewing operation. All applications will be reviewed by a three person loan committee comprised of Zaragoza community members with final approval made by the Costa Rica School Project management. 

Zaragoza Community Meeting - June 2012

The Costa Rica Micro Lending Facility (MLF) depends on the generous support of caring friends like you. Our micro lending program aids local farmers, merchants, and entrepreneurs through small loans for cattle, coffee beans, equipment, and other investments for an opportunity to better their lives. 

In the Summer of 2012, the community came together and had several meetings in reference to sustainable economic development. As most of the attention by the men was focused on agriculture, it was agreed to have separate meetings for the men and women, so the women could more freely express themselves. The conclusion was that some type of low interest lending project would best serve the community's needs and thus, the Micro Lending Facility was born. This program is modeled on the successful Grameen Bank (Banker To The Poor, Muhammad Yunus), which began in Bangladesh in 1976 with $27.00 and later grew to serve over seven million families with loans over six billion dollars.  More than 250 institutions in nearly 100 countries operate micro-credit programs based on the Grameen methodology. 

Advisory Board formed - Mr. Derish announced the formation of a new advisory board for this project - a trusted group of community and business leaders which provide the necessary input and counseling to make such a project successful. 

Donations to the Micro Lending Facility can be done using the PayPal button below.  Donations of $250 or $1,000 receive special incentives.  Details at this link: Donate Now!

Zaragoza Community Meeting - June 2012

Costa Rica School Project, Inc.
P.O. Box 4389, Chico, California 95927-4389

Telephone: (415) 648-7007