Guarantee Registry already operating in Guatemala

The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.

Wednesday, January 14, 2009

According to prensalibre.com "Erasmo Velasquez, vice minister of Economy, confirmed that the Nuevos Almacenes S.A. company, which runs the Cemaco stores, registered a guarantee for its warehouse stock, in order to request a loan from a bank abroad."

More on this topic

Guatemala: Record $75 Million Property Guarantee

July 2010

The registration of sugar inventory in the Property Guarantee Registry (RGM) is the biggest since its creation.

As a guarantee for a $75 million loan, Sucden Americas Corporation has registered a 20,000 ton sugar inventory.

Prensalibre.com reports that, "the product will either be stored in Expogranel's installations or those belonging to the Association of Guatemalan Sugar Producers (Asazgua)".

Increased Use of Crops as Collateral

November 2012

When there aren’t sufficient assets to use as collateral for bank financing, producers are registering their crops in the "Registro de Garantías Mobiliarias" (Movable Collateral Registry - RGM).

Prensalibre.com reports that "Of the 400 entries of movable items from January to November in the RGM, at the Ministry of Economy (Mineco), more than 150 correspond to crops of gold and pergamine coffee.”'

Ninety-One Secured Property Transactions in Guatemala

March 2009

In the 2 months that the Secured Transaction Registry has been operating, there have been 91 inscriptions for amounts of up to $20 million.

This registry allows companies to inscribe all types of assets and is seen by companes as a way to access more credit in the financial system.

Guatemala: Law of Real Estate Guarantees comes into effect

September 2008

The Property Registry will be in charge of temporarily recording the real estate guaranties.

This resolution, contained in decree 46-2008 and which has been in effect since January of this years, will allow an individual to offer his work tools, harvest, sales and productions, etc as a guarantee to obtain credit. The transaction will be recorded in a registry in order to legalize it.

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