Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Colombia
COLFCRODUSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,792.00
Year-over-Year Change
181.56%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the borrowing activity of small and medium enterprises (SMEs) from credit unions and financial cooperatives in Colombia. It provides insights into the financing patterns and access to credit for this crucial segment of the Colombian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Colombia' series tracks the level of borrowing by SMEs from non-bank financial institutions in Colombia. This data is important for understanding the role of alternative financing sources for small businesses and evaluating financial inclusion efforts.
Methodology
The data is collected through surveys and reports from credit unions and financial cooperatives operating in Colombia.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the financing landscape for Colombian SMEs and inform policies aimed at improving access to credit and financial services.
Key Facts
- SMEs account for over 90% of businesses in Colombia.
- Credit unions and financial cooperatives provide an important alternative to traditional bank lending for Colombian SMEs.
- Improving SME access to credit is a key policy goal in Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the borrowing activity of small and medium enterprises (SMEs) from credit unions and financial cooperatives in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the financing patterns and access to credit for a crucial segment of the Colombian economy, helping to inform policies and strategies aimed at improving financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from credit unions and financial cooperatives operating in Colombia.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess the financing landscape for Colombian SMEs and inform policies aimed at improving access to credit and financial services.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags or inconsistencies due to the decentralized nature of credit unions and financial cooperatives in Colombia.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Colombia (COLFCRODUSPENUM), retrieved from FRED.