Home | Search | Login
Hoy April 16, 2014, 8:10 am Havana time.
Hide Menu
12/28/13 - Washington Post - Cuba eases rules for small business lending 

Associated Press

HAVANA - Cuba says it's easing the terms of lending to private business
owners in an attempt to boost the country's new small business sector.

The new rules were published in the country's Official Gazette this week
and publicized by state media Saturday. They let private businesspeople
take out loans for as little as 1,000 pesos, or $41, a third less than the
previous minimum.

The terms of repayment can now extend up to 10 years, with bank presidents
authorized to extend them even longer in certain cases.

Earlier this year, Cubans were allowed to use personal property such as
real estate and jewelry as collateral for loans.

The number of islanders working for themselves has stalled for the past two
years at about 444,000 - or 9 percent of the workforce.

Original Source / Fuente Original:


This server contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of Cuba's political, economic, human rights, international, cultural, educational, scientific, sports and historical issues, among others. We distribute the materials on the basis of a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107. The material is distributed without profit. The material should be used for information, research and educational purposes. For more information go to: http://www.law.cornell.edu/ uscode/17/107.shtml.