Banks offer new services to small and medium business in Costa Rica

Several banks are focusing on services to help put small and medium companies in the international market.

Tuesday, September 2, 2008

Bac San Jose Bank revealed a few weeks ago a new product which they will offer to the companies. The factoring service is a method by which the bank helps businesses to position themselves in foreign markets with the process of accounts receivable.
The Popular Bank, via the Special Fund for the Development of Micro, Small and Medium Business (Fodemipyme), offers financing and orientation services.

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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.

El Salvador Negotiates $500 Million Loan

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The loan is being negotiated with BNDES, the National Development Bank of Brazil, and would be used in development projects.

President Mauricio Funes expects to sign the loan in the first quarter of 2010.

"According to Funes, the loan being negotiated is for $500 million and would be geared to supporting micro, small and medium companies", reported Invertia.

Mini and small companies in Guatemala organize.

November 2008

Mini and small business persons on the West side of the country are organizing to expand their activities to other markets.

To achieve their goal they propose to give greater added valued to their products and foster diversification.

To date about 60 associated companies operate in the Departments of Totonicapan, San Marcos, Solola and Quetzaltenango.

Soft loans for small businesses in Honduras

July 2008

The Honduras Board of Private Enterprise has 150,000 dollars available for lending at an annual rate of 4.5 percent.

The funds come from the Government of Taiwan. They are part of a program that began in 2003 and which, up to June 30, 2008 has provided small business loans totalling 1,110,625 dollars.

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