Cuban banks began to lend to private businesses

The loans should stimulate the growth of small businesses, individual entrepreneurs, farms, and the construction of private homes.

Interest rates will depend on the term of the loan, and will be within the limits set by the Cuban Central Bank. The minimum loan for sole proprietors will be about $125 and for farmers about $40. Cubans can open current accounts and use checks, credit cards and wire transfers to make payments.
The banking reform is the latest in a list of measures approved by President Raul Castro in an attempt to revitalize Cuba's socialist economy by increasing private enterprise. Large numbers of government employees have been laid off with the hope that they will start their own businesses. Over the past 18 months, rules restricting private business have been relaxed and citizens are now allowed to buy and sell real estate and cars.
President Castro affirmed that these changes are necessary to renew, not abandon, the socialist model of development.

According to the foreign press for ForTrader.ru