The executive director of the Corporation of Exporters, Silvia Cuéllar, considered it a very good opportunity for SMEs, adding that it should enable favorable loan conditions.
Daniel Choto reported in Elsalvador.com more statements by the executive, "This kind of support is good for exportation, because one of the issues raised by exporters and especially by SMEs, is that credit is difficult, if the bank is creating a line with the Central American Bank for Economic Integration, that should make it much more accessible "
Source: elsalvador.com
More on this topic
August 2009
Exporting companies from El Salvador are demanding an integral exports policy from the Government.
According to the Corporation of Exporting Companies, known as COEXPORT, the most important items of such policy should be a financial guarantee fund and credit insurance.
Silvia Cuéllar, head of Coexport, detailed both financial instruments to Laprensagrafica.com: "Credit insurance will be a guarantee for exporters having problems with their products, and the guarantee fund will provide greater protection for the entrepreneur".
October 2011
The BCIE has granted a credit line to Cathay Bank to support MSME’s, as well as international trade and housing in Costa Rica.
A press release by the Central American Bank for Economic Integration (BCIE) reads:
The Central American Bank for Economic Integration (BCIE) has granted a loan to Banco Cathay allowing it to expand its global credit line to $10.5 million in order to support Micro, Small and Medium Enterprises (MSMEs) as well as international trade and housing Costa Rica.
July 2009
BCIE granted a credit line of $16.3 million to the Bank of Rural Development, known as Banrural, to be loaned to SMEs.
Banrural CEO, Samuel de la Cruz, stated that the interest rate will be around 12%, for 3 to 5 years. This loans will be available starting next Tuesday.
September 2011
The Banco de los Trabajadores (Workers Bank) has signed for a credit line worth $27.5 million with the Central American Economic Integration Bank
The funds will be earmarked for financing small and medium enterprises and housing loans.
The loan was signed by Ronald Garcia, general director of Grupo Financiero Bantrab, and Florentino Fernandez, country manager of BCIE.
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