Honduras small businessment complain about microcredit rates
Managers of small business firms in Honduras are complaining about the difficulty of getting credit at reasonable rates. Financial organizations say the credit is there and the process isn't onerous.
Thursday, July 24, 2008
However, interest rates for this sector are between 19 and 36 percent per year. Some financial institutions charge interest according to the outstanding balance, but in other cases rates are fixed.
This figures are a glimpse of this market's potential in Panama, say local financial brokers.
The number of companies providing quick loans at high interest rates to people who are not eligible for credit in the financial system has increased.
The AMPYME has given the Latin American Confederation of Credit Unions (COLAC) administration of the trust FIDEMICRO-OPORTUNIDAD.
Micro financing companies reported a 25% reduction in credit requests by Small and Medium companies.
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