Micro, small and medium-sized enterprises (MSMEs) that currently have no credits in force may access from Monday to a loan with the subsidized rate of 24%, as established by the Central Bank of the Argentine Republic.
Through Communication A7006, the BCRA indicated that it is estimated that more than 200,000 companies are in a position to request these credits from the PyME Plus line, with minimum requirements.
The credit has a fixed rate of 24% 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.
In the case of presenting the guarantee of the Argentine Guarantee Fund (FoGAr), the banks will be obliged to grant these financing.
The BCRA hardens: it will force banks to give credits to SMEs guaranteed by the Fogar
The Central Bank (BCRA) will enable a special credit line for $ 22,000 million for those MSMEs that today do not have bank credit. They will be available from next week, and banks will be obliged to grant them to all those micro, small and medium-sized companies that request them and that have the endorsement of the Argentine Guarantee Fund (FoGAr).
The BCRA enabled this line, which will be available around $ 22 billion and whose funding will be made up of a reduction in the Leliq stock and the release of bank reserves.
The line is in addition to the current one for MiPyMEs at 24%, which has approved and in process credits for $ 199,674.2 million, of which $ 156,811.6 million were disbursed, among a total of 100,332 companies.
Entities that do not provide the amounts stipulated by this new line will be penalized with a reduction in their Leliq position of up to 3 points, the Communication noted.
Companies that access loans at a subsidized rate through the MiPyME lines or the new PyME Plus must request the BCRA’s agreement to access the Single and Free Exchange Market for the acquisition of foreign currency.