More money for small businesses

[NewsWhore]

Banking Superintendent Rafael Camilo has revealed that members of the financial community are trying to find ways to increase the loan limit to small businesses to a ceiling of RD$10 million. In a press release, Camilo says that such loans would be granted based entirely on the business's credit history. Currently, only small and micro-businesses have access to loans of RD$5 million or less. Camilo pointed out that loans in excess of RD$5 million are considered large debits and they are granted only by commercial banks under all the asset evaluation requirements established in the Monetary Code. For this reason, the Banking Superintendent is trying to modify the requirements.

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