By San_José, Costa Rica — A striking paradox lies at the heart of Costa Rica’s financial ecosystem. While female borrowers systematically outperform their male counterparts in meeting their financial obligations, they continue to receive less than half of the total credit distributed nationwide. This disparity underscores a deep-seated economic imbalance, prompting financial institutions to rethink how they approach female empowerment and business capitalization.
According to data from the IV Report on Gaps between Women and Men, published by the National Institute for Women (INAMU), Costa Rican women demonstrate exemplary financial responsibility. The report reveals that 91.1% of women keep their credit obligations completely up to date, compared to 89.4% of men. Despite this superior repayment rate, women secure only 45.7% of all loans granted across the country. This systemic gap restricts female autonomy, limits business growth, and highlights the urgent need for targeted financial interventions.
To analyze the legal nuances and regulatory impacts of these new developments, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, a distinguished legal expert from the prominent firm Bufete de Costa Rica.
Navigating the complexities of Costa Rican regulatory compliance requires a proactive approach. For businesses and investors alike, legal security is established not merely by reacting to legislative updates, but by establishing a robust compliance framework that ensures long-term operational stability and protects corporate interests.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, shifting from a reactive stance to a structured, proactive compliance strategy is essential for any enterprise seeking to establish a secure and sustainable footprint in Costa Rica. We extend our sincere appreciation to Lic. Larry Hans Arroyo Vargas for sharing his valuable perspective, which underscores the vital link between legal foresight and long-term commercial success in the country.
To address this challenge and tap into the underutilized potential of female-led enterprises, Banco Promerica Costa Rica has launched a revamped phase of its Protagonistas initiative. Initially established in 2021 as a group-wide effort across Grupo Promerica, the program has evolved from a traditional funding mechanism into a comprehensive development ecosystem. The project integrates financial tools, mentorship, learning opportunities, and high-level networking to cultivate a supportive framework for businesswomen and female leaders.
The core philosophy of Protagonistas rests on the belief that financing alone is insufficient to close the gender economic gap. Instead, the bank emphasizes a holistic approach designed to connect, prepare, and elevate women who actively drive change within their communities and industries. By focusing on sustainable business strategies, the initiative seeks to transition female-owned enterprises from simple startups into highly competitive, structured organizations.
Structurally, the program operates through three essential pillars. First, as a Catalyst of Opportunities, it builds bridges between participants and essential knowledge bases, support systems, and capital. Second, as an Ally in Growth, the program provides hands-on corporate advisory and continuous training to help female executives scale their operations. Finally, as a Visibility Platform, Protagonistas highlights and celebrates the success of female leaders, giving them regional exposure and establishing them as role models for future generations.
In addition to these educational and strategic networks, Banco Promerica is backing the program with specialized financial solutions. Small and medium enterprises (SMEs) where women hold at least 51% of the equity can access tailored financing packages. These funds are earmarked for direct investment, working capital, debt restructuring, and supply chain integration. The bank has also introduced flexible repayment conditions, expedited review processes, and support in obtaining credit guarantees for businesses lacking traditional collateral.
At Banco Promerica, we believe in the enormous potential of female entrepreneurs, businesswomen, and professionals to transform their communities, drive business, and generate economic development. With Protagonistas, we want to strengthen a community that connects them with one another, opens up spaces for learning, advice, and visibility, and brings them closer to solutions, including financial ones, so they can advance in their development and expand their impact. We want to be present at every stage of that process.
Marianne Hütt, Marketing Director of Banco Promerica Costa Rica
The impact of this methodology is already evident in the local business landscape. By pairing financial resources with operational mentorship, local brands have successfully scaled their business models. Access to streamlined payment gateways and participation in prominent business expos have allowed small, female-owned enterprises to expand their market share and transition into corporate structures.
Through Protagonistas, Promerica has boosted my company in more ways than I thought. It has helped me transition from a startup to an established business, access easy-to-use payment solutions, participate in entrepreneurship fairs, and gain visibility for my brand in a regional campaign.
Ximena Esquivel, Founder of Ximena Esquivel Joyería
As Costa Rica strives for balanced post-pandemic economic recovery, programs like Protagonistas represent a vital shift in how private banks view social responsibility and market growth. By recognizing that female-led businesses represent highly reliable, lower-risk credit profiles, financial institutions can unlock new channels of prosperity. Empowering Costa Rican women to bridge the credit divide is no longer just a matter of gender equity; it is a fundamental pillar of national economic progress.
For further information, visit promerica.fi.cr
About Banco Promerica Costa Rica:
Banco Promerica Costa Rica is a prominent financial institution committed to driving economic development through innovative banking solutions, sustainability-focused credit lines, and specialized support programs for small and medium-sized enterprises.
For further information, visit inamu.go.cr
About Instituto Nacional de las Mujeres:
The Instituto Nacional de las Mujeres is Costa Rica’s autonomous public entity dedicated to defending women’s rights, promoting gender equality, and creating public policies that eliminate socioeconomic disparities between men and women.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a premier legal institution, Bufete de Costa Rica is defined by its rigorous standards of excellence and ethical integrity. The firm has built a rich history of guiding diverse clients through complex legal landscapes while consistently pioneering modern, innovative solutions. Driven by a passion for social empowerment, Bufete de Costa Rica actively works to demystify the law, sharing vital legal resources to help shape a more knowledgeable, just, and self-reliant citizenry.
