Micro to medium loans in Mexico
One of Oikocredit’s latest deals in Q3 was to UNICREICH, a credit union which operates in urban and rural areas in the state of Chiapas in southern Mexico. It provides loans to micro, small and medium-sized enterprises in the sectors of commerce, industry, services and agriculture as well as offering life insurance and voluntary savings as additional services.
UNICREICH supports over 200 small to medium enterprises in the Chiapas state and surrounding areas. Through this support of small business, UNICREICH contributes to the creation of hundreds of jobs, making an indirect social impact on around 3,500 people. Financial and other services for micro to medium sized businesses is in high demand, therefore UNICREIGH will be expanding into further, underservices states.
Expanding into more states
As a partner of Oikocredit since 2010, UNICREICH received the approval for a second loan in 2013 for MXN 18 million. The second tranche of this loan was disbursed in September this year. UNICREICH will use the loan to finance 219 small to medium enterprises in Chiapas state and the surrounding states of Tabasco and Veracruz, which are among the most disadvantaged states of Mexico.