$200 million Available for SMEs

Fedecrédito is looking to grant $236 million more in 2012 than last year in order to expand its credit supply in El Salvador.

Thursday, May 31, 2012

Fedecrédito system, focusing on the sector of micro and small businesses, aims to grant $236 million in loans in 2012, bringing its portfolio to $1,031 million.

Elsalvador.com reports that until last April, the bank has loaned $30 million.

40% of loans are for productive sectors, while between 28 and 30% are for consumption and the remainder is intended for the purchase or repair of public housing, said the President of Fedecrédito, Macario Rosales.

It is also expected to increase participation in the delivery of family remittances. In 2011, the system Fedecrédito transferred $307 million in remittances, and this year it expects the figure to reach $400 million.

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Guatemala’s sixth largest bank, Bantrab (Spanish acronym for Worker’s Bank), landed a credit line from the German Development Bank (DEG).

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