by Circles Robinson
HAVANA TIMES, Nov 24 — Bank loans for small businesses and farmers will gradually become a reality starting Dec. 20, states Cuba’s official press on Thursday.
Decree No. 289 is what makes possible the change in policy, however the overall amount of funds budgeted by the government for the loans was not made public.
Among those who will be eligible to apply are small farmers, either owners or renters of land, who will have the chance to borrow for purchasing and repairing equipment and tools that will allow them to increase their production capability.
Likewise other self employed workers will have the chance to request loans to purchase goods and inputs to improve their operations.
Another area where citizens will be able to seek loans is to buy building materials and pay labor in order to build or repair homes.
The banks will make a study of repayment risk factors involved with the perspective borrower and their economic activities or proposed business, notes the decree-law that was published in the Gaceta Oficial earlier in the week,