The SME sector was already experiencing difficulties in paying bonuses and Banco Provincia launched a loan to assist them.
June is a special month for small and medium enterprises (SMEs) because they have to pay the half bonus and that usually has a great impact on the cash flow of companies. As Ámbito anticipated, many are having problems doing so and They begin to seek financing to fulfill this obligation with their employees..
Pay attention to this situation, which occurs in June and December, Bank province He reported that It has a line of loans with special rates intended for the payment of salaries, bonuses, vacations and extraordinary bonuses. It will be available from June 1 to July 31 for companies that certify the salaries of at least 25% of their employee payroll through Banco Provincia.
The conditions of the credit for payment of bonuses
It has a fixed rate of 29% annually for MSMEs and 39% annually for the rest of the small and medium-sized companies, with a single payment period of six months. The payment term is up to 6 months. The maximum amount of the loan is given by the total amount that the company credits in salaries monthly in the Bank.
The financing It is managed in the branch where the company usually operates. Between December 2023 and January 2024, when the Buenos Aires public bank established the line to face year-end allocations, 385 SMEs used it and were assisted with more than 4,622 million pesos.
Source: Ambito
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