Corfo (Corporacion de Fomento de la Produccion – the Chilean economic development agency) will offer a new credit and loans program for micro- and small enterprises. It will offer long-term loan programs through savings and loan cooperatives and a credit line that will be operated by factoring companies.
The loans through the cooperatives will be given to companies with annual sales of up to UF15,000, for a maximum of UF1,500 and for one- to five-year periods. The factoring credit line will offer immediate cash flow to companies with no more than UF15,000 in sales per year, by purchasing their future payments. To finance this operation Corfo will give 4-year loans for up to UF100,000 to the factoring companies.
Source: South American Business Information
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