“This accounts for the reactivation process led by national SMEs, which invest to expand their plants, acquire machinery or technology, expand their product lines and incorporate personnel, which undoubtedly ratifies the role of the engine of the economy that have small and medium-sized companies”, said the secretary of the area, William Merediz.
Along the same lines, the portfolio official who leads Matias Kulfas He maintained: “Since the beginning of the administration we have generated the process of greater Argentine financial inclusion, we strengthened the budget of the National Fund for Productive Development (FONDEP) and the National Guarantee Fund (FOGAR) to subsidize rates and guarantee credits; we promote the use of the Electronic Credit Invoice (FCE) as a financing alternative; and we doubled the maximum amount of credits of strategic lines”
Specifically, official data from the Ministry of Productive Development shows that financing through SEPyME tools has grown 250 times since 2020. In total, 1,022,299 loans have been granted at subsidized rates. These were directed to SMEs, micro-enterprises and productive enterprises for a total of more than $226 billion.
Financing through fintech
With this framework, the Ministry of Productive Development announced a agreement with Uala to grant through the fintech credits at a subsidized rate. As explained by an official from the portfolio to Ámbito, $1,000 million will be allocated for credits focused on financing the purchase of tools, materials and productive inputs. These will range from $5.00 to $200,000.
The fixed interest rate will be 40% and the term could be around 12 to 18 months. “We aim at the financial inclusion of small businesses, which have historically been left out of the financial system and ended up falling into an informal system that ends up suffocating them financially,” said Kulfas.
Source: Ambito
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