FNG ups insured loans 43%

Colombia's National Guarantee Fund (FNG) insured more than 1tn pesos (US$352mn) in loans between January and October this year, up 43% compared to the same period last year, local daily Economia en Red reported. The FNG guaranteed loans issued to 66,884 small- to medium-sized enterprises nationwide this year through October, up from 39,067 companies during the same period 2002. In the month of October alone, FNG backed loans valued at 118bn pesos issued to 9,432 small- to medium-sized enterprises, up 84% compared to October last year. The average lending package received by local companies last month stood at 15mn pesos, down on the 18mn peso average loan issued during the same month 2002.