Member since 2017
USD credit 150'000
Created in 2008, the COOPECAN alpaca breeder cooperative works with nearly 3’100 families located in the departments of Arequipa, Apurímac, Ayacucho and Cusco. It operates two collecting centers and a fiber processing plant in Arequipa.
Project description
Since 2012, COOPECAN has been processing raw fiber, thus generating a more attractive income for its members. In 2017, ALTERFIN, a Belgian social investor, and Philea granted a USD 1,2m loan to relocate the factory to an industrial park in the city. Philea’s contribution was a subordinated loan of USD 150,000 which strengthened COOPECAN's equity. Following technical and legal difficulties linked to the installation of the new factory and COVID, production was significantly slowed down. In agreement with the other social investors, the credit was restructured in 2021 over a period of 10 years.
Challenges & perspectives
Increase in equity, repayment of restructured loan and obtaining new short-term credit lines at a rate not exceeding 9%.
Key figures
Total assets: USD 8’100’972
Equity: USD 752’206
Turnover: USD 4’672’871
Net result: USD 194’143
Number of beneficiaries:
3’100 familles
Philea’s Intervention
Purpose: factory relocation
Disbursement: 2018
First Loan: USD 150’000
Guarantee: mortgage & letter of guarantee from FOGAL.
Outstanding (31.12.2023): USD 176’000
Repayment : Restructuring in 2021. Repayments according to schedule.
Purpose: working capital
Disbursement: mars 2021
Credit: USD 90’000
Guarantee: export contracts
Outstanding (31.12.2023): USD 90’000
Usefull data
Country: Peru
Administrative headquarters : San Borja
Operational headquarters : Arequipa
Philea member since: 2017
Web site
Impacts
Improved income for Alpaca breeders through the purchase and processing of raw materials and export. Direct sales to the two main producers and exporters of alpaca yarn and clothing in the international market. COOPECAN also obtained a credit of 1.4 million USD from the IDB to improve pastures and to open stores in Cusco, Arequipa and Lima.