Crediflorida – Peru
Crediflorida is, with almost 10 years of experience in the agricultural financing and especially in the coffee sector, a pioneer institution in its business model that has been replicated in many parts of Peru. Indeed, following an agrarian cooperative to cover financing gaps of its members, Crediflorida developed a financing model tailored to farmers’ needs while incorporating agrarian cooperatives.
The institution’s mission is to offer diversified financial services to its members to support their economic and social development, which allows to raise the quality of life of the member and his family, linked with the development of their community.
Crediflorida is exclusively active in rural areas of Peru’s central jungle. The institution covers all 3 provinces, Chanchamayo, Satipo and Oxapampa, located in two rural departments in the center of the country. Considering the low population density and rural membership profile, the institution opened 2 branches located in over 2 hours and 5 hours drive from the headquarter which is set in La Merced. All individual members of Crediflorida are farmers, most of them grow coffee (80%).
The MFI offers 4 types of loans. All loans are individual and financing conditions, duration and repayment terms, are adapted to the agricultural activity of members.
Crediflorida organizes workshops and informational sessions. Not mandatory and free, these courses aim (1) to disseminate cooperative values and (2) to train members on health-related topics, financial management and / or land management. For example, in 2011, fourteen workshops were held in seven different locations. These courses have attracted 473 members, which is equivalent to 20% of the institution’s members.
More information about Crediflorida here