FINPYME Credit Program
FINPYME Credit is the IIC’s small loan product designed to provide competitive financing for small and medium-size enterprises (SMEs) in eligible countries of Latin America and the Caribbean. Loan amounts range from US$100,000 to US$600,000.
This product was developed as part of the IIC’s continuing search for ways to broaden its coverage of SMEs and meet their credit needs. FINPYME Credit is designed to help small businesses looking to increase their sales by financing investments in working capital and fixed assets. The IIC currently operates FINPYME Credit programs in the Bahamas, Barbados, Belize, Bolivia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Paraguay, Suriname, Trinidad and Tobago, and Uruguay.
FINPYME Credit Benefits
The FINPYME Credit program provides U.S. dollar-denominated loans at competitive fixed interest rates with terms of three to five years, and technical assistance for improving financial, environmental, and business management practices. Loan approval is expedited by an efficient and standardized process.
Eligible businesses include private enterprises in the agribusiness, manufacturing, wholesale, retail and services, construction, and practically any other sector benefiting the local economy. Qualifying SMEs must be in business for at least three years and have total gross annual sales of between US$500,000 and US$6,000,000. Export-oriented or import-substitution enterprises and companies whose operations have no material environmental impacts will be given preference.
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