US$50,000.mercialbanks,Oehringargues,stillseesmallbusinessloansas“riskyandunprofitable.”Thestate-rundevelopmentbankshavebeenlargelyphasedoutofSMElendingandhencethereisarenewedinterestincreditguaranteeschemes.OehringrecallsthatFUNDES,theSwiss-basedinternationalfundofferingguaranteestobanksforSMEloanstoLatinAmericancountries,hasoftendiscussedwhethercapitalwouldbebetterinvestedinaspecializedbanklendingtoSMEsthaninguaranteefunds.Aftertenyearsofexperience,FUNDESconcludedthatitisverydifficultforaguaranteeschemetobreakeven.However,OehringnotesthattherewereseveralinstancesofabankhavingstartedasalendertoSMEsbut,aftertenyearsorso,havinggoneovertolargerborrowers.esoutinfavorofguaranteeschemes,believingthatinLatinAmericatheywouldproduceadditionallendingtoSMEsandasignificantimpactongrowthandemployment.
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