BNDES expects loans to micro, small firms to surpass US$3.8bn in 2011

- Tuesday, December 20, 2011

BNDES expects loans to micro, small firms to surpass US$3.8bn in 2011

Brazilian national development bank BNDES expects its loan disbursements for micro and small businesses to surpass 7bn reais (US$3.8bn) in 2011, local news agency Agência Estado reported BNDES president Luciano Coutinho as saying.

Coutinho said close to 500,000 micro and small enterprises currently receive BNDES financing, for an average of 15,000 reais a company.

BNDES is the leading lender for micro and small firms in Brazil, according to the report.

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