Biess will double the granting of housing loans

Mortgage credits that are originated in Guayaquil will be processed in the city and not in Quito. The Bank of the Ecuadorian Institute of Social Security (Biess for its Spanish acronym) has opened an office to manage, approve and disburse loan applications.

It is called the second operations factory, which will be located in the main branch office of Guayaquil and will double the number of concessions for housing, as the Chairman of the Board of Biess Hugo Villacrés said yesterday August 5.

The goal is that the number of concessions remain distributed, 50% in Quito, 40% in Guayaquil and 10% in Cuenca, according to Biess.

This measure will help, according to forecasts of the organism, to reduce the disbursement term of the loans which is now on 86 days on average (107 days if requested in Guayaquil and 104 days from Quito).