loans to women totaled $762 million in two months

loans to women totaled $762 million in two months

Banco Provincia reported yesterday that in two and a half months it granted 377 productive loans with a gender perspective for a total of $762 million through its Women in the Province line, aimed at SMEs located in the territory of the province of Buenos Aires that are led by by women.

The largest volume of financing corresponds to credits for working capital, with 314 loans for $537 million. They have a maximum amount of $4 million, with a fixed rate of 69% per year and a maximum term of 12 months, with a 6-month grace period for the hotel, restaurant, leisure, cultural and sports sectors.

There were also 63 investment loans for $225 million. In this case, the maximum amount is $10 million, with a fixed annual rate of 76% and a maximum term of 36 months, with a 12-month grace period for principal payment, Bapro detailed in a statement.

To access this line, SMEs must have a valid MiPyme certificate, be located in the province of Buenos Aires and be led by women.

For this, it is necessary to have more than 50% of the share package owned by women or with at least 25% and at least one woman in a decision-making position with a minimum seniority of 3 months.


“These new loans with subsidized rates respond to our Sustainability policy, because they are developed from a gender perspective that seeks to promote financial inclusion and accompany the growth of enterprises led by women,” said Juan Cuattromo, head of the financial institution. And he added: “We thus comply with the mandate that Governor Axel Kicillof set for us that the Bank be one of the engines of the provincial economy.”

Bapro highlighted that Mujeres en la Provincia was launched on March 8 and is the second productive credit line with a gender perspective launched by Banco Provincia.

The first was Impulso Mujeres, presented in July 2021 to finance investment projects for SMEs headed by women.

Source: Ambito

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