Chile's Small Business Left Out of Credit Boom

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00024288-chiles-small-business-left-out-of-credit-/

By Lisa Yulkowski, Reuters

Chile’s economy is expanding at a healthy rate of more than 6 percent annually, fueled by record high prices for its top export, copper, and also by a surge in spending by businesses and consumers taking advantage of low interest rates.

Banks are also booming, with consumer lending up 20 percent and business loans up 10.3 percent in the first half of 2005 compared with the same period last year, says a report from the central bank.

But small businesses — which account for 15 percent of business revenue in Chile — say they are being left out of the economic good times, since bank loans are still prohibitively expensive for them and banks see them as too risky.

For this complete story, please visit Chile’s Small Business Left Out of Credit Boom.

Chile's Small Business Left Out of Credit Boom

Unknown Author

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