$7 Million for Costa Rican SMEs

CABEI and the country's largest finance company, Desyfin, have signed an agreement that will make $7 million available to small and medium sized enterprises (SMEs).

Wednesday, September 22, 2010

The Central American Bank for Economic Integration (CABEI) loan is part of the 'banca de segundo piso' ("second tier banking") program through which CABEI seeks to give SMEs better access to credit, according to Leticia Vindas writing for the El Financiero web portal.

Desyfin will make the funds available immediately by offering medium term credits (5 or 6 years). Priority will be given to the service, manufacturing, construction and retail sectors.

More on this topic

$ 2 Million in Credits for Costa Rican SMEs

February 2011

The Norwegian Investment Fund for Developing Countries (Norfund) will invest $ 2 million in financial institution Desyfin.

The resources, which are for financing small and medium enterprises, will be dispersed through various programs and services,"... such as discounted invoices, working capital, leasing for the acquisition of production, medical and technology equipment and financing of new environmentally friendly projects, among others," reported Elfinancierocr.com.

IIC Lends $20 Million to BAC El Salvador

July 2010

It is estimated that approximately 300 SMEs will benefit from this operation.

On July 20, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$20 million to El Salvador’s Banco de América Central S.A.

With this project, the IIC aims to provide BAC ES with medium-term funding on appropriate terms for channeling funds to eligible projects in El Salvador.

$16 Million for Guatemalan SMEs

July 2009

BCIE granted a credit line of $16.3 million to the Bank of Rural Development, known as Banrural, to be loaned to SMEs.

Banrural CEO, Samuel de la Cruz, stated that the interest rate will be around 12%, for 3 to 5 years. This loans will be available starting next Tuesday.

$20 Million for Small and Medium Sized Businesses in El Salvador

June 2009

With a credit from the BID, Banco Agricola will expand its loan program for micro, small, and medium sized businesses (MiPyMEs acronym in Spanish).

“The approval of the loan from the Inter-American Development Bank (BID acronym in Spanish) to Banco Agricola allows us to offer resources that are currently available to meet the needs of the credit market in El Salvador.

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