Honduras: Bancovelo to Become Banco Popular

The institution will also change its business strategy focusing now on MSMEs.

Tuesday, December 7, 2010

The name change will be formalized in March 2011.

"At a press conference the main directors of Banco Popular presented the financial recovery process, the strength of its foreign shareholders and the ability to provide credits to MSMEs," reported El Heraldo on its website.

More on this topic

Why do SMEs fail?

March 2012

Over 50% of SMEs fail before they are three years old, 90% are no more than five years old and only 10% survive.

In the case of Nicaragua the subject is sensitive, "because 60 percent of its business backbone is made up of micro, small and medium enterprises, which account for 40 percent of gross domestic product (GDP), estimated at more than six billion dollars.

Panama to Host Regional Forum on MSMEs

December 2011

On December 14 in Panama City the regional forum under the theme "Entrepreneurship, Employment and Local Development" will take place.

The event will bring together representatives from countries in Central America and the Caribbean, and is sponsored by the Regional Centre for the Promotion of Micro and Small Enterprises in Central America.

Atlántida Bank to Help Honduran MSMEs

November 2011

The International Finance Corporation (IFC) has signed an agreement with the bank to develop its portfolio of products for small and micro enterprises.

According to a press release from the IFC, the initiative will help create jobs and promote economic growth in Honduras.

$35 million for Costa Rican MSMEs

February 2009

The Banco Popular will make the sum available for MSMEs that lack the collateral needed for a credit line.

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)"

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