Bancolombia sets $3.7 bn credit line for SMEs in financial hardship

As of December 2020, Colombia reported 1,473,295 micro, small and medium enterprises, of which 62% recorded financial hardships, according to Colombia Fintech. In light of this, Colombia’s largest bank, Bancolombia, announced its plan to allocate $ 3.7 billion (Co$ 13.5 billion) into a credit portfolio to support SMEs’ financial needs specifically.

Source: Portafolio