The special line to finance payment of wages and working capital has a total amount of $ 16,000 million at a rate of 24% nominal annual
In a few days Santander Argentina has already granted 6,000 million pesos in special lines for the payment of wages and working capital to micro, small and medium-sized companies (MiPymes) as well as a dozen hospitals, clinics and sanatoriums.
Of this amount, $ 4,900 million correspond to credits for 4,500 MSMEs that will allow the payment of 110 thousand wages at a special rate of 24% annual nominal. This is in addition to $ 726 million in loans to a dozen hospitals, clinics, and sanitariums, and another $ 181 million in additional special lines to MSMEs.
In total, Santander Argentina made available to MSMEs credits for the payment of wages for a total of $ 16,000 million. These loans will allow to pay the salaries of approximately 350 thousand employees, belonging to 24 thousand MSMEs.
The special line for the payment of wages for MiPymes contemplates an annual nominal rate of 24%, with a grace period of 3 months and with a term of 12 months, backed by a fund specifically assigned to the Argentine Guarantee Fund (FOGAR).
Santander SMEs clients can initiate the process for the granting of the credit in a 100% virtual way through the Bank’s Online Banking.
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