$35 million for Costa Rican MSMEs
The Banco Popular will make the sum available for MSMEs that lack the collateral needed for a credit line.
Tuesday, February 17, 2009
Andrey Monge writes in Elfinancierocr.com: "The funds are part of the institution's net income, and will be assigned through an auction of guarantees, to be executed on February 20th by the Fund for the Development of Micro, Small and Medium Enterprises (Fodemipyme)"
State banks will allocate $670 million through different programs aimed at Small and Medium Enterprises.
Costa Rica Development Banking System will finance SMEs productive projects in up to $110.000.
SMEs may defer payment of the principal on loans made by state banks for 2 years, paying only the interest during that period.
SMEs in Costa Rica can receive guarantee backed funds for viable projects.
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