The IIC has granted a loan of US$3 million to Mutual Cartago de Ahorro y Préstamo (MUCAP) to fund close to 25 home loans to middle- and low-income families and about 65 loans to micro, small, and medium-sized enterprises (MSMEs) in Costa Rica.
MUCAP was founded in 1970 in the Cartago province and has become a well-established player in the domestic financial system. MUCAP is currently the second largest mutual savings bank in Costa Rica. MUCAP has 33 branches and a presence in all seven provinces. It offers its clients a broad portfolio of products including loans for purchasing, building, or repairing homes; MSME loans; and consumer loans. It also offers savings and investment products to its clients.