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The Loan Process in Costa Rica Step by Step

Cost Rica Loan Process

With the equity loan funding process, Gap has assisted many people in achieving their ambitions. As explained below, any equity loan application must follow a number of procedures from start to finish. We assist borrowers and lenders in navigating the loan process in Costa Rica step by step, using our knowledge and experience to help with a fair and balanced transaction.

The Loan Request

  • A potential borrower finds Gap Equity Loans through our website, social media profiles, word of mouth (typically from a satisfied borrower), or our referral program;
  • The prospect fills out a loan request online or contact us with some questions before filling out the loan request, or we get the same information through a referral agent;
  • We contact potential customers, analyze their requirements, and guide them through the loan application process. We ask any questions on which we require clarity;
  • To examine the feasibility of a loan, we start with the basics, such as a land survey (Plano cadastro) and any other relevant details;
  • We schedule a site visit with the prospective borrower to inspect the property. Following that, we meet with the borrower to discuss the loan. Finally, we work to complete the full loan application form, including all required paperwork, to close the transaction.

The Investor Alert

  • We create an Investor Alert with the loan information and photos taken during the site visit. This is how we promote the loan opportunity to our select group of lenders and potential lenders;
  • We suggest interest rates and terms based on what the borrower would agree to and what we believe would be attractive to the lender, given the market conditions. Final rates and terms are always subject to negotiation between the lender and the borrower;
  • We submit the information we obtained during our review to a lender who expresses interest in the loan. Grupo Gap will address any concerns or questions that the lender may have at that time.

Term Sheet and Closing the Deal

  • We’ll create a Term Sheet for both sides to review if the lender agrees to undertake the loan and both sides agree on rates and terms;
  • We arrange the necessary documents for closing the loan with assistance from the respective attorneys. The notary public registering the loan will perform their due diligence as required by law, but we make their job easy by having done much of the legwork already;
  • The Term Sheet will be modified as needed. A date and location for formalizing the loan and making disbursements will be determined;
  • The parties sign at the closing, and the lender makes the disbursements specified on the final Term Sheet. According to Costa Rican law, the official terms of the loan are recorded and signed in the protocol book of a notary public. Following that, the formal loan documentation (escritura) is filed with the National Registry, which records the loan on the borrower’s title.

Getting Started

A loan is a long-term relationship between a lender and a borrower. Therefore, this is merely the beginning. Following the start of the loan, the borrower makes payments to the lender accordingly.

We often work directly with both the lender and the borrower at Grupo Gap. We are here to help you with the loan process. With most loans, we do a periodic due diligence check to ensure that the property’s conditions haven’t changed. It is outlined in the Term Sheet.

-Written by Glenn Tellier (Founder of Grupo Gap)



*Loan Request Form

    Your Information

    How Did You Hear About Us?


    Referral Name:

    Your Name:

    Your Email Address:

    Your Phone (if possible, include both home and mobile numbers)

    Loan Request

    Amount Requested:


    Use of Funds:

    Collateral Property Details

    Property Location: Please include Province, Town, and District

    Approx. Land Area: (pick square meters or square feet)

    Approx. Construction Area M2: (pick square meters or square feet)

    Property Value:


    Property Description: Please include the age and condition of the property

    What is/are your Land Survey (plano catastrado) or Lot number(s)? (optional)



    Frequently Asked Questions

    How long does it take to get approved for a loan in Costa Rica?

    The approval process can vary depending on the lender and the type of loan you are applying for. In general, it can take anywhere from a few days to several weeks.

    What types of interest rates are available for loans in Costa Rica?

    There are typically two types of interest rates available for loans in Costa Rica: fixed and variable. Fixed interest rates stay the same throughout the loan term, while variable interest rates can fluctuate.

    Can foreigners apply for loans in Costa Rica?

    Yes, foreigners can apply for loans in Costa Rica, but they may need to provide additional documentation and meet specific requirements.

    Are there penalties for early loan repayment in Costa Rica?

    It depends on the lender and the loan terms. Some lenders may charge penalties for early repayment, while others may allow you to repay your loan early without any additional fees.

    Can I apply for a loan online in Costa Rica?

    Yes, Gap Equity Loans offer online loan applications. However, it’s essential to ensure that you are working with a reputable lender to protect your personal and financial information.

    Are there any government programs that offer loans in Costa Rica?

    Yes, the Costa Rican government offers several loan programs for small businesses and entrepreneurs. These programs are primarily reserved for Ticos and have specific qualifying restrictions and loan conditions.



     Contact us for more information, or fill out a loan request now!




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