Bank Financing to Small and Medium-Sized Enterprises (SMEs) in Colombia

46 Pages Posted: 20 Apr 2016

See all articles by Constantinos Stephanou

Constantinos Stephanou

BIS/Financial Stability Board

Camila Rodriguez

affiliation not provided to SSRN

Date Written: January 1, 2008


The objective of this paper is to shed light on current trends and policy challenges in the financing of small and medium-sized enterprises (SMEs) by banks in Colombia. The paper is motivated by the well-documented financing gap for SMEs, whose causes are complex and multi-dimensional. Based on data collection and interviews with the authorities, a representative sample of banks, and other relevant entities, the authors analyze the evolution and characteristics of this market in recent years. Bank financing to SMEs is becoming a strategic segment for Colombian credit institutions. The current business and risk management models for SME lending are still relatively underdeveloped, but greater sophistication is expected as the market matures. Important institutional and policy constraints to SME lending remain, but are not yet binding. In order to address these constraints before they begin to bite, the authors identify and describe a potential policy reform agenda.

Keywords: Access to Finance, Banks & Banking Reform, Debt Markets, Bankruptcy and Resolution of Financial Distress

Suggested Citation

Stephanou, Constantinos and Rodriguez, Camila, Bank Financing to Small and Medium-Sized Enterprises (SMEs) in Colombia (January 1, 2008). World Bank Policy Research Working Paper Series, Vol. , pp. -, 2008. Available at SSRN:

Constantinos Stephanou

BIS/Financial Stability Board ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002

Camila Rodriguez (Contact Author)

affiliation not provided to SSRN

No Address Available

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