Financing Connections for Fishing
Meet Herbert, Karim, and Vidal. Thanks to a USAID guarantee, Herbert’s bank was able to issue a loan to Karim, a fish processor, who was in turn able to process more fish, meaning Vidal could sell more fish and hire more fisherman.
Small businesses in Mexico generate 72% of employment, yet only receive 9% of bank lending.
But loan guarantees from USAID are changing this.
A USAID guarantee to a bank means a small fish processor can get a loan to process more fish. Which means the processor can buy more fish from local artisanal fishermen.
Meet Vidal. Local fisherman, entrepreneur, family-man.
Thanks to this increased demand, Vidal sells more fish, employs more people, and can better support his family and educate his children.
Vidal continues to fish every day. Building a better future for his family and community.
Every day, small businesses around the world receive loans guaranteed by USAID’s Development Credit Authority.
To find out more, visit: usaid.gov/dca
Last updated: December 07, 2016