The BCRA has implemented new credit lines at a subsidized interest rate of 24%, including a special tranche for investment in domestic capital goods, and another tranche with minimum requirements for micro-, small-, and medium-sized enterprises (MSMEs) with no bank financing up to now.
These measures entail an injection of at least another 200 billion pesos in the lending market.
The investment line will allow companies of any size to access financing at a 24% interest rate for the purchase of capital goods, equipment or machinery, made by MSMEs in Argentina.
The “MiPyME (MSME) Plus Credit Line”, which is aimed at those without any outstanding bank loan, will also reach enterprises rated under categories 1 or 2 in the debtors’ database as of March 20. Banks will have to provide this credit lines to MSMEs with guarantee from the Argentine Guarantee Fund (Fondo de Garantías Argentino, FoGAr) and included in the database prepared by the Argentine Ministry of Productive Development.
Enterprises may apply for the MiPyME Plus line with minimum requirements. Financing for ARS 1.083 billion has already been approved, out of which ARS 752.5 million have been disbursed to 1,340 companies.
Additionally, companies that accessed the MiPyME credit line at a 24% rate may renew their loans for an amount equal to the monthly payroll. This credit line reached 161,817 transactions, with a total disbursement of ARS 263.887 billion.
This set of credit lines ensures that the financial system can reach MSMEs and large companies investing in the purchase of domestic capital goods.
June 25, 2020.