Costa Rican Development Banking will finance up to $100.000

Based on consultations and technical studies, it was determined that this is the adequate maximum amount for SMEs to loan.

Friday, November 28, 2008

Additionally, the system should begin to operating in the first few days of December, even though it just has half of the necessary funds as the transfer and settlement of previous trusts have not been completed.

The interest rate that will be charged for these loans have still not yet been determined.

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Credit for MSMEs in Costa Rica

April 2012

Increased credit is available for mini, small and medium enterprises in the Banco Popular and Banco Nacional in Costa Rica, bringing the amount available to $740 million.

Banco Nacional now has ¢ 250,000 million ($493.66 million) for the productive sector, 50,000 million colones ($98.7 million) more than in 2011, said Victor Eduardo Acosta, director of the entity’s Development Bank.

El Salvador: Credit to MSMEs

February 2012

The start of 2012 will see the launch of the new Development Banking System, which has $200 million in credit to support micro, small and medium enterprises.

Bandesal has, to start off with, $200 million for small and medium enterprises."However, we are aiming later on to provide funding for large enterprises, preferably those that require large investments such as construction and agricultural industries, said the technical secretary of the Presidency, Alexander Segovia," in an article by from Daniel Gonzalez Choto a ElFinancierocr.com correspondent in Costa Rica.

Continued Obstacles at the Development Bank

June 2009

Money is not reaching the productive system in Costa Rica because of defects in the law, for which reforms are still being studied by the Advisory Council.

The guidelines that regulate the Development Bank System contain inconsistencies that have impeded the allocation of a good part of the abundant financial resources available. Because of this, the Advisory Council will send a reform proposal to the Legislative Assembly.

Development Bank System off to partial start

November 2008

The Development Bank System (SBD) will start to function in December, but a great part of it is still incomplete and will take at least six months to complete.

The Government confirmed that the system will start with the Nacional, Popular and Credito Agricola de Cartago banks. The last of these three will administrate two of the main funds of the SBD.

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