Business Loans at 24%: $ 217 billion has already been...

Loans at 24%: $ 217 billion has already been agreed for 110,000 SMEs

The financial system it has disbursed more than $ 176,321.7 million to benefit 111,621 companies, which allocated the resources to the payment of wages, the covering of checks and the formation of working capital.

Among the group of companies, there are 538 that correspond to hospitals, clinics and others related to health, which received credits for $6,181 million.

As reported by the BCRA, “the credit offer grew over the weeks since joining the Preventive and Mandatory Social Isolation ordered by the national government and the total amount of the line was successfully placed.”

For that reason, promoted a new line, called PYME Plus, so that a group of some two hundred thousand companies that do not have a credit rating have access to credit on advantageous terms.

Banks will not be able to deny this line, for about $ 22,000 million, to those who previously access the FOGAR guarantee.

The 24% main line has loans approved for $ 200,861.1 million and in the approval process for $ 16,950.1 million, reaching a total of $ 217,811.2 million. Disbursements amounted to $ 176,321.7 million, which were mainly allocated to 26.4% to pay wages, 17.1% to cover deferred checks and 50.3% to the formation of working capital.

FOGAR provided guarantees for $ 92,046 million for entities to grant credits.

The loan has a fixed rate of 24 percent for one year with a three-month grace period. and as a requirement, companies must have the MiPyME certificate, which process begins on the AFIP website and is granted by the Ministry of Productive Development.

The availability of the FOGAR guarantee and the approval rate of the lines allows us to estimate that the credit line quota of $ 220 billion will be met.

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