National banks have already granted more than $ 10 billion in loans to SMEs

In the last two weeks, the banks began the process of assisting MSMEs with loans of 24% TNA (and in some cases 22% TNA) for the payment of salaries, within the framework of the line promoted by the Central Bank of the Republic Argentina through Communication A 6943.

According to a sampling carried out with ADEBA member banks, as of Friday, April 3, the national capital banks had agreed to an amount that exceeds $ 10 billion, yielding an average of $ 1,400,000 per company.

This sum grows day by day in ADEBA banks, therefore it is expected that the number of loans granted to 24% for MiPymes will continue to increase. The entities that participated in the survey represent 80% of the loans granted by national private banks.

In addition to the assistance for the payment of wages, the banks expanded lines and current account agreements to their clients, in order to meet other types of business needs. To the aforementioned assistance, we must add the loans granted by public banks and foreign capital banks.

In parallel and in a complementary manner, starting this Monday, April 6, BICE Trusts will launch the FOGAR guarantee program, to facilitate access to credits for the payment of salary for MiPymes, within the framework of DNU 326/2020. arranged by the Ministry of Production, the guarantees of FOGAR will be available to MSMEs, SMEs and monotributistas that are in a situation of normal compliance in the Central Debtors of the BCRA.

The Executive Branch has arranged to capitalize FOGAR with $ 30,000 million.

Banks are expected to continue assisting their clients this week, and the $ 10 billion figure will be exceeded. In addition, the financing guaranteed with FOGAR is added, which will take effect this week. All these credits are geared towards paying salaries for the month of March and other business needs.

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