Nicaragua Passes Exchangeable Invoices Law

The new law will help raise funds primarily for small and medium enterprises.

Thursday, November 4, 2010

"The text of the law refers to the currency bill as “a negotiable security, which will serve as legal support when transactions are issued between employers and a financial institution, if the purpose is to raise funds", published Laprensa.com.ni.

The president of the Chamber of Commerce and the Nicaraguan Council of Micro, Small and Medium Enterprises (Conimypime), an organization which demanded this law, said the new law favors the industry and once in place, it will facilitate the mobilization of about $ 50 million a year.

More on this topic

Costa Rica: Bill on Factoring

October 2012

Entrepreneurs in the finance sector and academics are preparing a proposal to regulate by law invoice discounting, an activity which keeps on growing.

The wording of this proposal has gained importance in recent days as the Legal Affairs Committee of the Legislature began a study of a factoring project dating from 2002.

€2.58 Million for Nicaraguan SMEs

September 2010

The funds provided by the EU and Holland will go toward the Crear Empresas ("Business Creation") Program

The program, coordinated by the Ministry for Development, Industry and Commerce (MIFIC), will begin next year with the aim of financing projects from small and medium sized enterprises (SMEs).

Nicaragua: Exchangeable Invoice Law

September 2010

The proposal has already been favorably reviewed by the Economic Committee of the National Assembly and its approval is expected next week.

The law would make exchangeable invoices a legal proof of transactions, where they are issued between financial institutions and businesses seeking to acquire funds, particularly micro, small and medium sized enterprises (MSMEs).

Nicaragua: $2 Million SME Factoring Project

August 2010

Through an agreement with the IDB's Multilateral Investment Fund (Fomin), the company Credifactor will offer factoring (selling invoices at a discount) services to small and medium sized enterprises.

The total cost of the project is approximately two million dollars, which will enable Credifactor to develop its capabilities, carry out training and expand its services across Nicaragua.

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