Las micro, small and medium-sized commercial enterprises based in the province of Buenos Aires now have available the second edition of the Impulso al Comercio Bonaerense credit line, implemented by Banco Provincia, with rates of up to 18.5% per year.
Through this line, companies can access loans for up to the equivalent of 12,748 UVAs per client ((currently it is 14.5 million pesos).
As is already the case with other Banco Provincia lines, Impulso al Comercio incorporates the gender perspective and offers an additional rate bonus to companies led by women, in line with the gender policies promoted by the Buenos Aires Government.
That’s why, The fixed rate was set at 18.5% for the general public, but drops to 16.65% for businesses run by women.
The loan rate arises from the working capital line of the Repyme Programto which a subsidy of 50 or 55% is applied.
The difference is because businesses led by women and/or people with non-binary identity have an additional bonus.
These are working capital loans that have a special rate subsidized by the Buenos Aires Government through the Ministry of Production.
As in the 2023 edition, they allow the acquisition of nationally manufactured products, except for food, beverages, fuel, tires and imported white goods. They also cannot be used to pay salaries, tax or financial debts or services in general.
During the first edition, which was marketed during the second half of 2023, 982 loans were granted for 3.92 billion pesos, expressed at constant values of December of that year.
How to apply for credits
The new financing is available at Banco Provincia branches and will remain valid until December 31, 2024 or until the quota assigned by the financial institution is exhausted.
Impulso al Comercio Bonaerense seeks to support the growth and development of the activity of micro, small and medium-sized commercial companies located in the 135 municipalities of Buenos Aires, while generating new production and sales opportunities for the national industry.
Recipients: SMEs included in Communication “A” BCRA 7983 that have the eligibility certificate issued by the Ministry of Production, Science and Technological Innovation of the Province of Buenos Aires, that reliably demonstrate that they have their main business headquarters or develop their activity, mainly in the Province of Buenos Aires and whose main and/or secondary activity is included in the authorized CLAES.
Destination of funds: working capital and development expenses intended for the acquisition of finished products of national manufacture, except for food and beverages, fuel, tires, and imported white goods (household appliances), vehicles. The funds may not be used to pay salaries, tax or financial debts or to pay for services in general.
Amount: Only one eligibility may be obtained per beneficiary. The maximum loan amount will be the equivalent in pesos to 12,748 UVAs. The current UVA value published on the first day of the current month will be taken.
Term and method of payment: 12-month single loan, with 3 months grace period for capital repayment. Loan amortizable at interest due, applying the German amortization system. Capital installments and interest services will be paid monthly.
