According to the level of dividends and interest at which the Company's loans and dividends were paid, three stages in its credit policy can be established: 1) 1733-49; 2) 1752-60; and 3) 1760-80. The first coincides with the launch of the Company, with urgent needs to arm ships and acquire goods for transport to Caracas and characterized by highly profitable businesses. While it distributed high dividends, around 20%, it was worth borrowing money at 6 or 8%.
Beginning in 1752, in the second stage, shareholders were guaranteed 5% dividends plus the remainder based on each fiscal year's profits. Consequently, the interest on borrowed money was not to exceed that percentage, as the Company managed.
Finally, 1760 and 1780, along with maintaining the 5% dividend, the interest on money borrowed through the collection of censuses was reduced to 2.5 or 3%, and the most onerous debts were amortized.