Banks Boost Credit for Small Businesses

By Ben Tavener, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Interest rate cuts led by public banks in Brazil in 2012 have given a much-needed boost to small-scale businesses in terms of those looking to gain access to credit. Agência Brasil reports that, Banco do Brasil (BB) and Caixa Econômica Federal signed off on R$182.3 billion (US$ 88 billion) in loans in 2012, nearly 35 percent up on 2011.

Caixa provided R$60 billion of loans to businesses, 61 percent more than the year before, and BB made R$122.3 billion of funding . . .

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