Economy Minister Sergio Massa announced the launch of a credit line for micro, small and medium-sized companies. These are the features.
Ministry of Economy announced a series of fiscal relief measures and financing for micro, small and medium enterprises (MSMEs). This is a series of measures that seeks to accompany more than 515,000 organizations throughout the country, involving 4 million jobs.
Within this framework, a Financing line for the development of Argentine companies in the Knowledge Economywho developed the Argentine Development Bank (BICE) and has a 100% guarantee provided by the Argentine Guarantee Fund (FOGAR) for micro or small companies and 70% for medium-sized ones.
The objective is to “contribute to the strengthening of MiPyMES companies, providing them with access to a credit line that allows them to finance, with a rate discount, the working capital to carry out their projects”, they affirmed from the Government. In this sense, these are the characteristics of the credits:
- Of the total funds to be granted, which are $3 billion$2,000 million are contributed by BICE and $1,000 million, by the Trust Fund for the Knowledge Economy (FONPEC).
- Applicants will have access to a 25 point bonus percentages of the nominal interest rate of these credits of up to $50 million in 24 months with a 6-month grace period.
- The line will be valid until November 30, 2023 or until the execution of the credit quota subject to the bonus is completed, whichever occurs first.
Source: Ambito
