The Monetary Board has approved a series of tools that will serve as financial guarantees for small businesses that are requesting loans. The “Societies of Reciprocal Guarantees” (Sociedades de Garantias Reciprocas) and “Guarantee Societies” (Sociedades de Reafianzamiento) will make it easier for small business to access lower-cost financing. Third parties will provide provisional funds for the guarantees, as reported in El Dia. The Medina administration has been actively seeking new ways to support small business.
Updated onUpdated on Jul 7, 2014 at 4:00 PM