Real and Personal Guarantee Registry in Guatemala
The Ministry of the Economy will be in charge of the Registry (RGM) which will start to function on January 2.
Tuesday, December 30, 2008
According to prensalibre.com, "micro, medium and small business will be able to access credit and property at the registry as a guarantee for banks and other financial entities, such as agricultural equipment, harvest, merchandise inventory, certificates, computers, and other property.
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).
The registration of sugar inventory in the Property Guarantee Registry (RGM) is the biggest since its creation.
The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.
The Property Registry will be in charge of temporarily recording the real estate guaranties.
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