PROJECT

Projects

Summary of Proposed Investment

Project Number

24756

Company Name

Microcred Mexico, S.A.P.I de C.V. Sofom Enr

Date SPI Disclosed

Jun 29, 2006

Country

Mexico

Industry

Financial Markets

Projected Board Date

Jul 31, 2006

Status

Completed

Sector

Microfinance and Small Business - Non Commercial Banking

Department

Global Industry, Financial Markets

Environmental Category

FI

Previous Events

Approved : Nov 17, 2006
Signed : Nov 21, 2006
Invested : Mar 16, 2007

Project Description

MicroCred Mexico (the company) is a greenfield microfinance institution (MFI), which was created in January 2006. The company will propose a range of products from micro-loans for micro-enterprises to loans for small and medium-sized enterprises (SMEs). It will target local urban entrepreneurs with limited access to formal financial services in Mexico. The company will initially focus its activities on the state of Veracruz.

MicroCred Mexico will be managed by local and international staff with prior experience in micro and small business lending. It will also be supported by technical assistance from PlaNet Finance Mexico.

Sponsor / Cost / Location

Development Impact