Province relaunches microcredits to small businesses

“The Province continues to support microentrepreneurs in expanding their capacity, adding value and generating employment,” they expressed from the Production portfolio.

In this line, they indicated that in this new agreement bonus points and sectors of activity reached are expanded, incorporating services, tourism and commerce.

The line of Microcredits with Discounted rates of the Credits for Productive Recovery program had been launched in 2021, and since then it promoted the realization of investment projects by reducing the cost of financing, subsidizing up to 17 percentage points of interest rate in each credit granted.

During the first call, they reported that they received and evaluated 539 investment projects from microentrepreneurs from Buenos Aires, of which 512 were monetized. The investment destinations were mainly the purchase of machinery and equipment and building improvements.

“With a great effort from the Ministry, in this new edition, the bonus points are increased compared to those in force in the first agreement: 25 percentage points for the destination of productive investment in productive or commercial projects, and 27 for those led by women or diversities; 15 and 18 bonus points for destination of vehicles (utilities) and 10 and 15 points for destination of working capital”, they announced.

In this way, initially the final rate of the loans will be between 60% and 43% fixed per year throughout the life of the loan. In addition, new benefits are added: new activities are included, such as services, tourism and trade.

Disclaimer: If you need to update/edit/remove this news or article then please contact our support team Learn more

Deborah Acker

I write epic fantasy; self-published via KDP. Devoted dog mom to my 10 yr old GSD, Shadow! DM not a priority; slow response at best #amwriting #author.

Leave a Reply