According to the entity, the microcredit is given to the economic activity that generates annual sales equal to or less than $ 100,000.
Among January and October 2021, private banks granted $ 1,698 million in microcredit, that according to the Association of Banks of Ecuador (Asobanca) represents a 62% growth in relation to 2020, that is, $ 653 million more.
In the same period last year, $ 1,045 million, while in 2021, $ 1,698 million.
That segment it is also the one with the highest growth.
The entity explained that the microcredit It is granted to a person, company or group of people with a joint guarantee as long as they have an economic activity that generates annual sales equal to or less than $ 100,000.
Private banks delivered an additional $ 3,647 million in loans until last October
For Asobanca, the increase in microcredit is good news to reactivate the economy and it cites the Superintendency of Companies, an institution that establishes that the 64,7 % of the companies in Ecuador are micro-businesses.
The Association of Banks of Ecuador added that during the ten months of 2021, private banks placed $ 20,785 million in new loans, which represents an increase of 9% (additional $ 1,720 million) compared to the same period in 2020.
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