Founded in 1994, FONDESURCO started its operations with the support of two local Non-Governmental Organizations, CEDER and DESCO, both oriented to the development of the rural sector. The company specializes in rural microfinance, allowing access to financial services to people excluded from the formal financial system and vulnerable segments.
To expand the coverage and deepen its services, in February 2015, FONDESURCO became a Savings and Credit Cooperative. This allowed the company to provide services such as savings, transfers, insurance, and payment of services, among others. FONDESURCO currently has more than 40 thousand members and provides financial and non-financial services for rural and urban development in its 29 agencies in Peru, located in 6 cities: Arequipa, Lima, Moquegua, Ayacucho, Puno and Huancavelica.
General information
| Borrower | Cooperativa De Ahorro y Credito FONDESURCO |
| Country | Peru |
| Head office | Arequipa |
| Website | https://www.fondesurco.pe/ |
| Founded | 4 February 2015 |
| Active on Lendahand since | 2 July 2023 |
| Credit Score | 2.57 |
Financial information per 2023-03-31
| Portfolio Overview | €20,552,561 |
| Leverage ratio | 88.00% |
| Write-off ratio last 12 months | 0.60% |
| % investment amount in arrears (>90 days) | 8.00% |
About Peru
Peru is located in the western part of South America and shares its borders with Ecuador, Colombia, Brazil, Bolivia and Chile. Peru has more than 33 million inhabitants, of which about 7 million live in rural areas, and according to the National Institute of Statistics and Informatics of Peru, 39.7% of the rural population lives in poverty and 12.1% lives in extreme poverty. The Government of Peru is democratic, decentralized and is organized according the principle about the separation of powers. There are three powers: Executive Power, Legislative Power and the Judicial Power; being each one of them autonomous and independent. Economic policy is managed by the Central Reserve Bank of Peru (BCRP), an autonomous and independent entity, internationally recognized. The Financial System is regulated by the Superintendency of Banking and Insurance (SBS); and the Securities System is regulated by the Superintendence of the Market and Securities (SMV). The country's Gross Domestic Product (GDP) has presented important periods of economic growth, distinguishing itself as one of the countries with the greatest dynamism and economic strength in Latin America, reflecting as a result a positive average annual growth in a post-pandemic period; according to the BCRP, a growth rate of 2.9% is projected for 2022, whose growth is led by the agricultural, hydrocarbons, services and manufacturing sectors; for 2023, growth is projected between 2.9% and 3%. Currently, Peru has trade agreements with the main economies of the world such as the United States, China or the European Union. In addition, it belongs to trade blocs such as the Asia-Pacific Economic Cooperation Forum (APEC) or the Pacific Alliance.
Last funded project
PeruFondesurco
Peruvian cheesemaker Demetrio turned his passion into reality. With a microcredit from Fondesurco, he bought the necessary equipment to become the proud owner of a thriving cheese business. Your investment helps 100 entrepreneurs like Demetrio flourish. *EUR/USD exchange rate risk*