The Tala loan app provides an alternative way to get short-term loans, that doesn’t involve complex procedures that are in use by banks and other lending institutions.
In these tough economic times where banks have increased interest rates that make it harder to get unsecured loans, a simpler way to get a loan is heaven-sent. The Tala loan app provides an alternative way to get short-term loans, that doesn’t involve complex procedures that are in use by banks and other lending institutions. Here, you don’t need a guarantor, security, or a good credit rating. Besides, the loan is instant, unlike other institutions where you would have to wait a minimum of 30 days. If you need a loan from Tala, you have to download the app first. This Tala loan app download guide will help you to install the app on your device.
The Inter-American Development Bank has granted a loan that will be used to finance energy efficiency projects for small and medium-sized companies.
The funds for this loan come from the Green Climate Fund (GCF) and will be executed by the Development Bank of El Salvador (BANDESAL). The objective of the financing granted is to support the efforts being made by SMEs in El Salvador to reduce electricity consumption and limit greenhouse gas emissions, reported the Inter-American Development Bank (IDB).
In Costa Rica a law has been proposed that would benefit tourism businesses suffering from financial problems - caused by the 2008 crisis!! -, readjusting their debts and repurchasing and returning their lost assets.
EDITORIAL
Beyond the dark aspects of the bill - among them that it is not known who the beneficiaries are - its purpose seems rude and unfair to entrepreneurs who managed to overcome the crisis of the last decade through proper management and undoubtedly a lot of sacrifice, and who today have healthy companies.
An adequate legal framework is needed for the healthy and steady development of institutions engaged in microfinance.
The Association for Research and Social Studies (ASIES) has published a study on the essential institutional strengthening of microfinance in Guatemala, with its own data and references it reports from the Secretariat for Economic Integration (SIECA) on "The Importance of the Micro Financial Sector in Central America ".
An announcement has been made that starting November the Salvadoran Development Bank will have $30 million available for loans to provide clean energy projects developed by SMEs.
All productive sectors can access these loans as long as they are formalized SMEs and their projects are geared towards the areas mentioned. The loans are expected to be available by next November with flexible and competitive conditions for the sector.
Through a mutual fund, the World Bank and other multilateral institutions, will be awarding $50 million to finance small and medium enterprises in the region.
With a mix of capital and a long-term soft loan the III Caseif fund, managed by Lafise Panama, will have $50 million for small and medium businesses who require funds to finance their operations.
While governments spend fortunes on consultants to promote SMEs, the imbalance between their expenses and their income is the main threat to employers.
An article in Elfinancierocr.com reports that Danilo Montero, executive director of the Costa Rican Association for Development Organizations (Acorde) noted that "... The main risk to the national economy in 2014 threatening micro, small and medium enterprises is the fiscal deficit. "
Under an agreement between the Davivienda Bank and U.S. AID long-term loans to small and medium enterprises will be enabled.
The U.S. Agency for International Development (USAID) and Banco Davivienda Salvadoreño S.A. signed an agreement pledging to promote access to finance for Salvadoran SMEs in order to improve productivity and exports, one of the goals of the Partnership for Growth between El Salvador and the United States.
CoreCo Central America Fund is a $54 million private investment fund, which aims to invest in SMEs in Central America that have potential for growth, stimulating the expansion of industry.
Although not limited by sector, investments are primarily aimed at companies in the following sectors: healthcare, financial services, computer / software, consumer goods, retail, logistics business and telecommunications.
For micro-enterprises, who usually do not have assets to offer as collateral, good payment history is the best asset in order to access credit.
In an article in Siglo21.com Francisco Madrid, general manager of Finsol, says "’If we are talking about small businesses and their difficulties in getting loans, from the standpoint of traditional banks we will find that their main difficulties are that they lack financial reports and do not having formal guarantees to support any loans. "
Fedecrédito is looking to grant $236 million more in 2012 than last year in order to expand its credit supply in El Salvador.
Fedecrédito system, focusing on the sector of micro and small businesses, aims to grant $236 million in loans in 2012, bringing its portfolio to $1,031 million.
Elsalvador.com reports that until last April, the bank has loaned $30 million.
The Development Bank of El Salvador has received about 700 investment prospects recently and is preparing to grant loans starting from this May.
"We have received more than 700 potential prospects, some of which some are already in advanced stages," said Oscar Lindo, chairman of the Development Bank of El Salvador (BANDESAL) to Laprensagrafica.com.
Although many of these prospects are not themselves credit applications, Lindo said the bank could begin lending from the current month.
The Development Bank of El Salvador’s imminent start of operations may be the long awaited solution to the lack of credit for productive activities.
The difficulty in accessing financing has been a limiting factor for the proper functioning of the productive sectors in recent years, a view shared by, for example, Elena de Alfaro, president of the Foundation for Economic and Social Development (Fusades).
The Development Bank in El Salvador has received about three hundred projects which it could potentially fund, in the category of medium and small businesses, and will start analyzing them next month.
Oscar Lindo, chairman of the state agency, indicated that they have yet to define service guidelines between the Bandesal and private banks. Once they have been defined analysis of potential funding will start.
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.
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