AMPYME launches Microcredit and Small Business Loans

The Minister of Micro, Small and Medium Enterprises (AMPYME), Giselle Burillo Saiz, said “the Year of Microcredit 2011 is now in Panama” as she made the official launch of the Microcredit Program (FIDEMICRO-PANAMA) and the National Day of Loans for micro and small entrepreneurs (SMEs) throughout the country.

Sáiz Burillo announced the call through Panama-Compra of the best value tender for the trustee that will manage the Fund for Microcredit, established by Act 72 of 2009 and under which Panamanians will have access to loans to start businesses.

The minister said the information was provided by AMPYME FIDEMICRO to executives and representatives from more than 100 institutions and Panama’s financial system on the development of a strategy for the promotion by banks, financial institutions, NGOs and rural banks for the benefit of loans for the sector of micro and small entrepreneurs around the country.

Sáiz Burillo also released the schedule of dates and venues of the National Day of Loans to SMEs at national level where they can participate in the various financial institutions as part of the tools that facilitate access to credit even to the poorest people of the country.

The 2011 fair schedule starts on March 30 and 31 at COOPEVE in Veraguas, April 13 and 14 at the David Fair in Chiriqui, May 25 and 26 in the Grand Hotel of Azuero for Los Santos and Herrera, June 22 and 23 at COEDUCA in Cocle, June 20 at the Sheraton Hotel in Colon and August 25 and 26 at the Hotel El Panama in Panama City.

According to the minister the national day of microcredit will be present all the institutions, financial institutions and banks in the country attached to the Guarantee Fund, which is one of the tools that work efficiently and effectively and providing opportunities for small and medium businesses

She said that during the first fair of loans in 2010 in Panama City, through the AMPYME PROFIPYME program they managed to place 100% of the fund of $5 million through banks and financial institutions for requests for $6.8 million in loans to SMEs. Currently, working with 13 financial institutions the AMPYME creates competition and the free supply and demand for loans.

During this activity in the Panama City Marriott Hotel, the Director of Operations of the AMPYME Engineer Gloria Arosemena explained the Microcredit Fund (FIDEMICRO) and the advisor José Manuel Gómez, spoke about the achievements of the Financing Program for Small and Medium Enterprises (PROFIOPYME), while Mr. Luis Corro, made an explanation of Loan Day 2011.

Representatives and executives were invited from IPACOOP, the Superintendence of Banks, Financial Pacific, G & T Continental Savings Bank (CA), ASSA Insurance Company SA, Aseguradora Mundial, REDPAMIF, PROCAJA, Cooperativa Juan XXIII, Cooperativa Juan Pablo I RL, the Banco Nacional de Panama (BNP), Agricultural Development Bank (ADB), BANESCO, Delta Bank, Mi Banco, Multibank, MICROSERFIN and G & T Continental, the Business Outreach Center, Banco Santander Panama, Latin American Confederation of Savings and Credit Cooperatives (COLAC), Professional Services Cooperative Multiple RL, Credicorp Bank SA, Lafise Trust, Global Funds Financial Corporation, GNB Sudameris Bank, HSBC Bank Panama, Icaza Trust Corporation, Metrobank and Trust Multri INC.

Managers also participated from organizations such as: MMG Trust, Quijano Trust Corporation, Sucre, Arias & Reyes Trust Services, The General Trust Company, GOVIMAR Financial, International, Credit Finance, Global Bank, GAP, Cooperativa de Ahorro y Crédito (CACSA), ABS Trust Inc, Aleman, Cordero, Galindo & Lee Trust Panama, Panama Bac International Bank, Bank & Trust Corp Balboa, Panama Bancafe, Citibank, Trust, Mossfon FMM Trust, ACP, Scotianbank, Profuturo, Colac, Panama Buy and Mossack Fonseca, among others.

This post is also available in: Spanish