Banking Financing SMEs SMEs loans Banco Produzcamos Agriculture SME loans agricultural sector bank credit loans for agriculture Agricultural support access to credit bank industrial sector new bank

Nicaraguan Breeders Short on Funding

Development bank “Produzcamos” has $12 million available for livestock breeding loans, but it has only approved 5%.

Wednesday, June 30, 2010

©image: IRRI Images

Solomon Guerrero, from the Nicaraguan Breeders Association (Faganic), believes that the main problem is the long periods required to get a loan with the bank (almost two months).

He told Laprensa.com.ni that “such slow approval processes only worsen the situation. The country’s productive sectors have almost no financing available, due to tough credit conditions at private banks and micro financing companies”.

Source: laprensa.com.ni

Key entities

Banco Produzcamos Solom Guerrero Nicaraguan Federation of Ranchers

Countries

Nicaragua

Insight

SMEs Financing SMEs agricultural sector Agricultural funding loans for agriculture rural credit loans bank credit access to credit Banking Animal husbandry

Nicaragua: $22 million for Loans

June 2011

Procredit Bank will provide financing to agricultural and commercial sectors.

Consolidation in the market and granting loans to new segments such as the housing and agriculture sectors, are part of the objectives of the representatives of Procredit Bank, which has opened its twenty-fifth branch in the country.

El Salvador: Term Extension for Farmers

October 2010

Congress approved an extension for farmers and agro-industrial debtors so they can solve their credit problems.

Debtors have until March 31st, 2011.

Laprensagrafica.com reports "This new decree gives legal validity to approved legal recourses so that merchant trials against companies who operate under Cooperatives or Farmer Associations, can be suspended."

New Credit Options for Salvadoran Farmers

April 2011

State banks are offering reduced interests rates to increase agricultural loans and assist in the recovery of the sector.

BFA, the Agricultural Support Bank, is providing $12 million in loans at an interest rate of 4%, in addition to $25 million provided by the Multi-Sector Investment Bank.

Nicaragua: $ 20.6 Million for Microcredit

March 2011

60% of the funds will go to small and medium size farmers.

Representatives of the Foundation for Rural Social and Economic Development (Fundesers) noted that about 36 thousand customers will be benefited with a line of credit.

"In the last two and half months Fundeser has recovered foreign funds for up to $ 1.2 million dollars, which will contribute in financing the planned growth for this year," reported Laprensa.com.ni.

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