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  Factoring allows businesses with short credit histories or without real guarantees to get fast financing.

Financing at your Fingertips


NICARAGUA

Building a small business’s competitiveness goes deeper than having efficient production processes or quality products and services. Access to adequate financing is also a major factor in gaining and maintaining competitiveness, helping SMEs to expand and survive in the marketplace. In countries like Nicaragua with less developed financial systems, factoring has proven to be a good instrument for achieving higher levels of financial democracy. A FOMIN project is promoting the growth of this financing model with one objective in mind: helping the SMEs most excluded from the country’s formal financial system.

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Facts and Stats

  • The project supports the growth of factoring services for SMEs which lacks access to credit in the formal banking system in Nicaragua.
  • 188 Nicaraguan SMEs have benefited from Credifactor's factoring services.
  • Through factoring, the project has provided about US$78 million in financing to SMEs.
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