Costa Rica: $3.4 Million for Micro-companies

"Microfinanzas", a micro-finance project from the Development Banking System, would provide financing for 4.000 companies.

Friday, September 18, 2009

Loans will have 10 a year term, a maximum of $8.500, and interest rates of 20%.

"The money originates from Finade, a state development trust, and will be administered by bank 'Bancredito'. The bank, for its part, will give the money to organizations who will finally deliver the funds to companies", reports Nacion.com

More on this topic

Still No Credit for MSMEs

May 2012

Three years after the entry into operation of the Development Bank, the percentage of MSMEs accessing credit as companies has barely increased.

In Costa Rica, the sector of Small and Medium Enterprises still faces serious problems with financing, so that 57% of these companies are financed from their own resources.

$ 2 Million in Credits for Costa Rican SMEs

February 2011

The Norwegian Investment Fund for Developing Countries (Norfund) will invest $ 2 million in financial institution Desyfin.

The resources, which are for financing small and medium enterprises, will be dispersed through various programs and services,"... such as discounted invoices, working capital, leasing for the acquisition of production, medical and technology equipment and financing of new environmentally friendly projects, among others," reported Elfinancierocr.com.

IIC Lends $20 Million to BAC El Salvador

July 2010

It is estimated that approximately 300 SMEs will benefit from this operation.

On July 20, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$20 million to El Salvador’s Banco de América Central S.A.

With this project, the IIC aims to provide BAC ES with medium-term funding on appropriate terms for channeling funds to eligible projects in El Salvador.

$20 Million for Small and Medium Sized Businesses in El Salvador

June 2009

With a credit from the BID, Banco Agricola will expand its loan program for micro, small, and medium sized businesses (MiPyMEs acronym in Spanish).

“The approval of the loan from the Inter-American Development Bank (BID acronym in Spanish) to Banco Agricola allows us to offer resources that are currently available to meet the needs of the credit market in El Salvador.

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