Guarantees For SMEs Supplying the State

Costa Rica's "Banco Popular", in agreement with the Economy Ministry, will support small and medium enterprises for their participation in public purchases.

Friday, September 4, 2009

Many SMEs don't participate in public purchases because they don't have resources to pay for compliance assurances, remarked Eduardo Sibaja, economy vice minister.

"Banco Popular will assist in providing guarantees. This way, SMEs won't lose working capital and suppliers will get paid in case of non compliance", added Sibaja to newspaper La Prensa Libre.

More on this topic

Who Sells to the State in Costa Rica?

April 2017

In 2016 the number of companies that sold goods and services to government institutions grew almost three times compared to 2015.

From the report "V Status Report on the SME Situation in 2016":

The V Status Report on the SME Situation in 2016 in Costa Rica indicates that sales to the state by companies that are registered in the Costa Rican Business Information System (SIEC), increased their share by 11.9%; which implies that the number of companies that sell to the state increased by 285 compared to 2015.

SMEs Lent Only 39% of Available Capital

October 2012

In Costa Rica there are 45 credit programs for SMEs, which in the first six months of 2012 placed $582 million, 66% of which were for the services and trade sectors.

A statement from the Ministry of Economy, Industry and Commerce (MEIC) reads:

Financial institutions placed 242,757,000 colones ($582 million) in loans to SMEs during the first half of 2012

Costa Rica: Ensuring Participation and Compliance

January 2011

The Mer-link system will guarantee the necessary participation and compliance in public bidding.

The new method will come into operation on January 24 with Banco Nacional , BCT, Lafise, Cathay, Promérica and Improsa as well as the National Insurance Institute.

Alicia Avendaño, Director of the Technical Department of the Digital Government, told La Nacion: "...

"Foster Our Own" Program Finances Viable Projects

July 2009

Costa Rica Development Banking System will finance SMEs productive projects in up to $110.000.

Small and medium businesses with viable projects will be able to request financing from state owned banks "Banco Nacional", "Banco de Costa Rica", "Banco Popular" and "Banco Nacional de Costa Rica".

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