Approved Loans for Over ARS 325 Billion

As a result of the credit policy adopted by the BCRA, financial institutions have given 554,364 loans for a total amount of ARS 325.822 billion since the Federal Executive established the preventive and compulsory social isolation/lockdown. The main tools have consisted in credit lines at a maximum annual percentage rate of 24% for micro-, small- and medium-sized enterprises (MSMEs), and 0% credit lines for self-employed workers whether or not under a simplified tax scheme.

The “MiPyME (MSME) Credit Line” at a 24% maximum rate reached 161,817 transactions for a total disbursement of ARS 263.887 billion. Out of this total, 47% (ARS 122.968 billion) was allocated to working capital1; 23% (ARS 59.713 billion), to pay wages; 24% (ARS 63.526 billion), to pay deferred checks; and the rest, to health services and other segments.

The BCRA also channeled loans through the “MiPyME Plus Credit Line”, which companies without outstanding bank loans may access with minimum requirements. The amount approved is ARS 1.083 billion, out of which ARS 752.5 million have been disbursed so far to 1,340 companies, and ARS 1.3 million are in the process of approval.

The 0% credit line, given by way of credit card advances, was another tool designed to assist self-employed workers whether or not under a simplified tax scheme. The number of loans granted is 391,164 for a total amount of ARS 47.489 billion, out of which, the total amount that has already been credited is ARS 22.068 billion.

Apart from this, the tax applicable under a simplified scheme is credited to taxpayers’ accounts to be transferred to the Federal Administration of Public Revenues (Administración Federal de Ingresos Públicos, AFIP).


MiPyME Credit Line at 24%
Approved and in the process of approval ARS 287.343 billion
Accumulated disbursements ARS 263.887 billion
Payment of wages ARS 59.713 billion
Payment of deferred checks ARS 63.526 billion
Working capital ARS 122.968 billion
Number of transactions 161,817

MiPyME Plus Credit Line
Accumulated amount approved ARS 1.083 billion
In the process of approval ARS 1.3 million
Disbursed amount ARS 752.5 million
Number of MSMEs (only) 1,34
Accumulated disbursements with FoGAr guarantee
Amount ARS 387.2 million
Number of MSMEs 832
Accumulated disbursements without FoGAr guarantee


ARS 365.3 million

Number of MSMEs


0% credit line for self-employed workers whether or not under a simplified tax scheme
Accumulated number of loans granted 391,164
Total accumulated amount granted ARS 47.489 billion
Total accumulated amount credited ARS 22.068 billion
Credit cards issued 122,077

(1) Working capital excluding payment of wages and deferred checks.

June 24, 2020.

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