What interest rates do the cooperatives lend at?
CODICAP currently lends at 18% annual interest over the current loan balance, COSAMI at 15%, and Xe-Ixtamayac at 26%, all paid in monthly installments. CODICAP managed to reduce interest rates from 36% to 26% while Pajebal’s founder worked with them as a Peace Corps Volunteer. During the first 3 months of the Pajebal project, they managed to reduce rates by another 8 points, to 18%, thanks to our lenders’ support.
