New entities to serve as guarantee for small business loans
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 …