So far this year, the reciprocal guarantee company (SGR) Garantizar has provided guarantees for more than 16,000 million pesos, which allowed nearly 6,000 SMEs to access more competitive rates to finance working and investment capital and, in some cases, reconvert.
In this way, the SGR not only doubled the assistance to SMEs in the year-on-year comparison, but also in these first six months of the year, it already exceeded the number of guarantees issued in all of 2019.
“These numbers confirm that we were effective in meeting the demands and in understanding the needs of SMEs across the country through our 32 branches. Thanks to this representation, the guarantees were destined for all sectors, both service companies, commerce, construction, agriculture, and industry and mining, ”explained Gabriel González, president of Garantizar.
The most requested tools for financing were bank guarantees due to the competitive rates and the terms that the SGR offers through these entities. Among these, the most requested is the 24% to 24-month term of the Banco Nación, with a six-month grace period for the payment of the first installment. Another instrument with a strong boom was the electronic check (Echeq), which has grown steadily thanks to its digital mechanisms and the low rates that Garantizar achieved in the stock market, which is around 18% on average.
In this sense, Gabriel González explained: “Since we carried out the first Echeq operation, its growth has been constant. In the last four months, we have negotiated a volume of more than 9,000 million pesos. Of that total, almost 70% was operated through electronic checks. ”