Questions to Ask Any Lending Company in Costa Rica

Whether you want to borrow or lend, the company in the middle matters. Most are what they say they are, but some promise more than they can deliver, and a few are not real at all. Before you work with any lending company in Costa Rica, including GAP, ask these questions. Good companies are happy to answer them.

1. Does the company take deposits or hold investors’ money?

Costa Rica reserves financial intermediation, meaning habitually taking in money from the public to lend it for the intermediary’s own account and risk, for entities authorized by law and by SUGEF (Law 7558, article 116). Ask plainly who holds the money and whose name the loan is in.

GAP’s answer: GAP does not take deposits. A lender funds each specific loan, which is secured by a first-lien mortgage in the lender’s favor.

2. What secures the loan, and can I see proof?

For a property-backed loan, ask what property secures it, what position the lender holds and how you will confirm the mortgage is registered. A lender should receive confirmation of registration after closing.

GAP’s answer: lenders always hold first position on titled property, and the mortgage is registered at closing.

3. Is anyone promising a guaranteed return?

A guaranteed, risk-free return is the clearest warning sign in private lending. Real secured loans carry real risk: borrowers can pay late or default. So are rewards for recruiting other investors, a common feature of Ponzi schemes; see how to tell a Ponzi scheme from a real secured loan.

GAP’s answer: lender rates range from 9% to 16% a year, and no return is guaranteed.

4. What will I pay, and when?

Borrowers should be wary of anyone asking for application, valuation or “processing” fees before a loan is reviewed, especially if payment goes to a personal account.

GAP’s answer: on standard loans, borrowers pay nothing before closing; fees are deducted at closing. Lenders receive the full agreed rate.

5. Is the company or lender registered where the law requires it?

People and companies that grant credit in an organized, habitual way may need to register with SUGEF under Law 7786, article 15 bis. Registration is for anti-money-laundering purposes; SUGEF states it is not an authorization to operate, so it is not a stamp of quality on its own. Learn how to check a SUGEF registration (in Spanish).

6. Can my own attorney review everything?

Any honest company will welcome your attorney. Be cautious if you are pushed to sign before you or your attorney have read the documents.

7. What happens if a payment is missed?

Ask who the borrower pays, what the documents say about late payments and defaults, and what the company does if something goes wrong. What happens if a borrower stops paying explains GAP’s side.

8. How do I know I am really dealing with the company?

Scammers sometimes copy the name of a real lending company in Costa Rica. Contact the company through its own website, not links or numbers sent to you by someone you do not know.

GAP’s answer: GAP’s websites are gap.cr, gaprealestate.com, gapequityloans.com and gapinvestments.com, and the email for every GAP company is info@gap.cr. CRIE, the immigration company, uses info@crie.cr.

9. Are you being rushed?

Pressure to decide today, or a deal that is “only available now”, is a reason to slow down. A real loan will still be there after your attorney has reviewed it.

Frequently Asked Questions

How do I check a lending company in Costa Rica?

Ask who holds the money, what secures the loan, whether returns are guaranteed, what you pay and when, and whether your attorney can review everything. Contact the company only through its official website.

Is SUGEF registration proof that a lender is safe?

No. SUGEF states that registration is not an authorization to operate; it concerns anti-money-laundering supervision.

Does GAP ask for fees before a loan closes?

Not on standard loans. Fees are deducted at closing.

What is GAP’s official email?

info@gap.cr for every GAP company.

This article is general information only and is not legal, financial or tax advice. Legal references summarize Costa Rican law as published in SCIJ; confirm how they apply to you with a Costa Rican attorney.

Contact Grupo GAP → · WhatsApp us at +506 4001 6413 to get started, call or email info@gap.cr