Use of Financial Services, Assets: Outstanding Loans to Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Colombia
COLFCSODUSXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
333,697,000,000.00
Year-over-Year Change
264.04%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding loans to small and medium enterprises (SMEs) at credit unions and financial cooperatives in Colombia. It provides insight into the availability of financing for this important business sector.
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, Assets: Outstanding Loans to Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Colombia metric tracks the total value of outstanding loans made by these institutions to small and medium-sized enterprises. This data point is a key indicator of credit access and financial inclusion for SMEs in the Colombian economy.
Methodology
The data is collected directly from credit unions and financial cooperatives in Colombia.
Historical Context
Policymakers and analysts use this trend to assess the financial health and lending activities of Colombia's cooperative financial sector.
Key Facts
- Colombia has over 200 credit unions and financial cooperatives.
- SMEs account for 90% of businesses and 60% of employment in Colombia.
- Lending to SMEs by cooperatives has grown steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans made by credit unions and financial cooperatives in Colombia to small and medium-sized enterprises (SMEs).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into credit access and financial inclusion for an important business segment in the Colombian economy.
Q: How is this data collected or calculated?
A: The data is collected directly from credit unions and financial cooperatives in Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the lending activities and financial health of Colombia's cooperative financial sector.
Q: Are there update delays or limitations?
A: The data may have short lags due to the reporting requirements of individual institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans to Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Colombia (COLFCSODUSXDC), retrieved from FRED.