Up to $1.000 in Seed Funding for SMEs

In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.

Friday, November 6, 2009

Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.

"Seed Funding 'has a social purposes. It looks to assist people living in extreme poverty in creating their own businesses", explained Gisella de Calcagno, head of the Micro, Small and Medium Enterprise Authority.



More on this topic

El Salvador Announces New Finance Production Program

October 2011

The Ministry of Economy has announced the availability of non-refundable co-financing line entitled: "Dynamic Start Up: Seed Capital."

A press release from the Ministry of Economy of El Salvador reads:

The Ministry of Economy (MINEC), through the Productive Development Fund (FONDEPRO) on October 12 announced to businesses, support institutions for start-ups, and the general public, the availability of a co-financed NON-REFUNDABLE line called: "Dynamic Start Ups: Seed Capital" with the aim of promoting economic development in the country, supporting innovative projects with growth potential, and competitive advantages.

More Resources for Salvadoran MSMEs

January 2011

Government officials announced a $ 4 million fund to strengthen performance of MSMEs.

Mario Cerna, Vice Minister of Commerce and Industry told the media: "It is a state investment in micro, small and medium businesses looking to become more efficient, that is to reduce costs and produce more, but also implement technology in their production processes, including helping them to innovate their products."

El Salvador Promotes Angel Investor Network

January 2010

FUSADES, a Salvadoran foundation, is working to create Central America's first angel investor network.

Such network would be composed of angel investors, who would invest in projects with innovative ideas, at the very beginning of their life-cycle. According to studies, several SMEs fail to survive in their first three years, mostly due to lack of funding and little knowledge of how to run a business.

$50 Million for Small and Medium Panamanian Companies

July 2009

The Panamanian government is allocating this amount to the development of micro and small businesses involving 546,412 establishments on the national level.

Giselle Calcagno, Minster of the Micro, Small, and Medium Business Authority (AMPYME, acronym in Spanish) commented that the fund is designated for seed capital, micro-credit, collateral funds, and for technical training and assistance.

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