Factoring for Agricultural Exporters in Nicaragua

Charles Harding, a representative of the Office of Business Development for Latin America and the United States said that this novel service is international factoring.

"Currently we have a very large portfolio in the area of perishable goods and one of the services that we offer is credit insurance, payment and risk" said the executive to Elnuevodiario.com.ni.

Source: elnuevodiario.com.ni

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Factoring in Panama

January 2010

The factoring industry in Panama (selling invoices at a discount) has grown to $100 million a year.

When the time lapse between credit sale and collection is longer than what the creditor can usually afford, factoring becomes a good option to have cash at hand to sustain day-to-day operations.

Nicaragua: $2 Million SME Factoring Project

August 2010

Through an agreement with the IDB's Multilateral Investment Fund (Fomin), the company Credifactor will offer factoring (selling invoices at a discount) services to small and medium sized enterprises.

The total cost of the project is approximately two million dollars, which will enable Credifactor to develop its capabilities, carry out training and expand its services across Nicaragua.

Rapid Growth of Factoring in Costa Rica

April 2011

The 18 companies that make up the country's Factoring Chamber now manage a $177 million portfolio, double the level recorded in 2009.

The largest growth is in the small and medium-sized enterprise (SME) sector, which has increased its supply of services to Costa Rica's government and transnational companies.

Nicaragua: Exchangeable Invoice Law

September 2010

The proposal has already been favorably reviewed by the Economic Committee of the National Assembly and its approval is expected next week.

The law would make exchangeable invoices a legal proof of transactions, where they are issued between financial institutions and businesses seeking to acquire funds, particularly micro, small and medium sized enterprises (MSMEs).