The resolution introduces changes in the regulation of Reciprocal Guarantee Companies to simplify their operation, increase transparency and facilitate access to financing for SMEs.
The Ministry of Economy introduced modifications to the regulations that regulate Reciprocal Guarantee Companies (SGR) in the country. It should be remembered that SGRs are financial institutions that provide guarantees to small and medium-sized businesses (SMEs) to facilitate their access to credit.
He did it through Resolution 471/2024 published this Wednesday in the Official Gazette. The main objective, as mentioned, is to streamline, simplify and improve the efficiency of the SGR system, guaranteeing its solid operation.
Changes introduced by the regulations
- Simplified procedures: Reducing bureaucracy and facilitating the operation of the SGR.
- Increased requirements: Imposing stricter requirements on people who manage SGRs, such as directors and managers.
- Clarified definitions: Offering more precise definitions of key terms in SGR regulations.
- Greater transparency: Requiring SGRs to provide more information to the regulatory authority.
- Justification: These changes seek to promote the growth of SMEs in Argentina by facilitating their access to financing.
Source: Ambito
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