Fomenta, S.C. de R.L. de C.V.

Supporting a cooperative focused on agricultural activities

El Salvador

Fomenta, S.C. de R.L. de C.V. (Fomenta) is a cooperative that offers financing to micro and small entrepreneurs. Most of the cooperative's members are engaged in agricultural activities. This sector has traditionally been ignored by banks.

Fomenta was founded in 2007 and started operating the following year. In 2014, the local NGO San Vicente Productive became the main shareholder, and Fomenta became a credit and savings cooperative.

From its headquarters in San Vicente, the cooperative also serves other cities nearby such as Cuscatlan, Cabañas, La Paz, La Libertad and San Salvador. The cooperative currently has around 1,400 clients, more than 200 of whom are shareholders (2017).

In order to prevent over-indebtedness, Fomenta uses two credit bureaus, which screen loan applications, and its own database.

Fomenta, S.C. de C.V. has been an Oikocredit partner since 2017.