To explore in greater depth an MFI’s capital structure and financial decision-making processes, this case study will analyze Financiera Edyficar (Edyficar) which has experienced two transformations over the last decade as well as intense competition in the Peruvian microfinance market. Specifically, this study will highlight the challenges and successes faced by Edyficar’s management in creating an appropriate capital structure in each stage of its lifecycle development. It will analyze the various types of funding available to Edyficar as it grew from an NGO to an EDPYME (a regulated, non-deposit taking financial institution) to a Financiera (a financial institution with deposit-taking capacity), and the internal and external factors that influenced the evolution of management’s financial strategy and vision. Full case study in PDF format; Pages: 34p