Guarantees For SMEs Supplying the State

Costa Rica's "Banco Popular", in agreement with the Economy Ministry, will support small and medium enterprises for their participation in public purchases.

Friday, September 4, 2009

Many SMEs don't participate in public purchases because they don't have resources to pay for compliance assurances, remarked Eduardo Sibaja, economy vice minister.

"Banco Popular will assist in providing guarantees. This way, SMEs won't lose working capital and suppliers will get paid in case of non compliance", added Sibaja to newspaper La Prensa Libre.

More on this topic

Costa Rica: Ensuring Participation and Compliance

January 2011

The Mer-link system will guarantee the necessary participation and compliance in public bidding.

The new method will come into operation on January 24 with Banco Nacional , BCT, Lafise, Cathay, Promérica and Improsa as well as the National Insurance Institute.

Alicia Avendaño, Director of the Technical Department of the Digital Government, told La Nacion: "...

SMEs Lent Only 39% of Available Capital

October 2012

In Costa Rica there are 45 credit programs for SMEs, which in the first six months of 2012 placed $582 million, 66% of which were for the services and trade sectors.

A statement from the Ministry of Economy, Industry and Commerce (MEIC) reads:

Financial institutions placed 242,757,000 colones ($582 million) in loans to SMEs during the first half of 2012

"Foster Our Own" Program Finances Viable Projects

July 2009

Costa Rica Development Banking System will finance SMEs productive projects in up to $110.000.

Small and medium businesses with viable projects will be able to request financing from state owned banks "Banco Nacional", "Banco de Costa Rica", "Banco Popular" and "Banco Nacional de Costa Rica".

Success of Electronic Guarantees for State Suppliers

May 2014

In Costa Rica the state purchasing system Mer-link facilitates getting guarantees of participation and compliance which must be used to support offers by companies in state tenders.

Currently 80% of purchases from around 111 government institutions are made through the Mer-Link electronic platform.

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