More than 75,000 micro-, small- and medium-sized enterprises (MSMEs) have accessed a special credit line launched by the BCRA at a maximum annual interest rate of 24% for an amount in excess of ARS108 billion since a month ago.
The ensemble of financial institutions has approved loans for ARS132.929 billion — out of which 82% have already been disbursed — while ARS23.863 billion are still under assessment. The special line for MSMEs totals ARS156.792 billion.
In turn, the Argentine Guarantee Fund (Fondo de Garantías Argentino, FOGAR) has provided sureties for financial institutions to give new loans for ARS92.046 billion. The number of MSMEs that have obtained this credit line totaled 75,149, 48% of which channeled the funding to wages, 39% to working capital, and 12% to pay checks.
Out of the amount disbursed, ARS3.942 billion were granted to health services providers covered by the effective regulation, irrespective of their size and within the framework of the COVID-19 national prevention policy.
The credit line for MSMEs endorsed by the BCRA amounts at least to ARS220 billion, and became effective on March 20.
Buenos Aires, April 24, 2020.