Fitch, the international rating agency, has affirmed Banco de A Edwards’ ratings at long-term 'A-' (A minus), Short-term 'F2' foreign currency ratings, long-term 'A-' (A minus), short-term 'F2' local currency ratings, individual 'C' and Support '2
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.
Artikos Chile, a company formed with a US$9mil investment by Banco de Chile and BCI (Banco Credito e Inversiones), is planning to develop in the next two years a US$4m business and reach more than 3,000 clients.
The Chilean government has launched an initiative designed to help small businesses refinance their debts and rekindle investment. A US$2bn (Ј1.4bn) aid package will be the centrepiece of the scheme.
Heller Net Sud, the Japanese-Chilean firm specialising in factoring and leasing, has announced that Chile’s bank regulator on Wednesday granted it a provisional license to create a bank aimed exclusively at small and medium sized businesses.
As part of a large expansion programme, Chile’s Banco de A. Edwards announced yesterday that it had opened a factoring unit.
In spite of the introduction of laws this year to protect minority investors and to eliminate capital controls, levels of investment and trade volumes have remained low in Chile in recent months.
