Credit Guarantees for Costa Rican SMEs
SMEs in Costa Rica can receive guarantee backed funds for viable projects.
Friday, April 3, 2009
The Development Fund for Micro, Small and Medium Sized Enterprises (Fodemipyme) gave guarantees and assurances to six cooperatives and one bank for $8.5 million. These guarantees will be used by the institutions to cover up to 75% of each loan request after having evaluated the feasibility of the project for which the funds are requested.
The Banco Popular will make the sum available for MSMEs that lack the collateral needed for a credit line.
Costa Rica Development Banking System will finance SMEs productive projects in up to $110.000.
The National Cooperative of Educators (Coopenae) will receive $30 million from the International Finance Corporation (IFC) for loans.
By February, the system has placed 55% of its available funds, benefiting 1.775 small and medium companies.
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