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Grupo Coppel to disburse $50M in microcredits in US

The Mexican banking and retail conglomerate Grupo Coppel S.A. de C.V. will disburse $50 million in microcredits in the U.S. through a partnership with the startup company Insikt, according to a report in El Economista.

The credits are aimed at immigrants and people outside the banking system with average loans worth around $1200 for 12 months, the report noted.