Banks Committed to Supporting Int’l Biz

October 2, 2009

Conducting business with foreign companies can be a complicated – and pricey – relationship.

If, for example, a European country wants to purchase bananas from Costa Rica, the buy, package, ship and receive process typically incurs steep costs, which the involved companies sometimes cannot afford without assistance. Fortunately for Central American companies, regional banks are committed to offering financing of international ventures – before, during and after the economic crisis.

Banks such as LAFISE (Latin American Financial Services, www.lafise.com) and HSBC (www.hsbc.com) play vital roles in supporting international business relationships. When companies involved in exporting or importing goods and services need financial assistance to support their ventures, LAFISE and HSBC have willingly stepped in to assist.

“Export and import businesses count on the support of LAFISE to facilitate the management of their financing and treasury when forming international relationships,” said Mariano del Castillo, assistant manager at the corporate offices of LAFISE in Costa Rica. “Creating relationships between foreign businesses requires financing of the initial investment, which can include purchasing of raw materials for infrastructure, transportation costs and increased production costs. We provide (this) support.”

Both LAFISE and HSBC ensure the reliability of companies interested in assistance for international ventures with a comprehensive financial background check. Once the companies are approved for loans or funding, they are permitted to open credit lines and create payment plans with the bank. Castillo said that because the relationships bring investment into the country, there are significant deductions in the companies’ payback obligations.

“Investment in foreign businesses is vital to the growth of the food, construction and infrastructure industries in Costa Rica and Central America,” Castillo said. “The support of such businesses active in improving the economy is vital for the region’s development.”

According to LAFISE and HSBC, the economic crisis has failed to alter support for such companies. Both banks claim that, despite a tighter budget, financing has remained constant.

“We have been operating in a normal manner,” Castillo said. “We never stopped our support of clients who have maintained valid credit lines – not before, during or after the economic crisis.”

 

Facebook Comments

You may be interested

Costa Rica grants asylum to Nicaraguan activist Alvaro Leiva
News
230 views
News
230 views

Costa Rica grants asylum to Nicaraguan activist Alvaro Leiva

AFP - October 18, 2018

Costa Rica granted the Nicaraguan human rights activist Alvaro Leiva political asylum last week. Leiva is the secretary of the…

Gardeners of the forest: The tapir in Costa Rica
Pic of the Day
328 views
Pic of the Day
328 views

Gardeners of the forest: The tapir in Costa Rica

Alissa Grosskopf - October 18, 2018

Nai Conservation seeks to protect the endangered danta, or tapir, from growing human intervention. “We formed a collective: we believe…

Court rejects tax reform and asks legislators to eliminate four points
Costa Rica
1149 views
Costa Rica
1149 views

Court rejects tax reform and asks legislators to eliminate four points

Luis Fernando Cascante / Semanario Universidad - October 17, 2018

Costa Rica's Plenary Court has rejected the proposed tax reform bill in its current state and asked the members of…