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 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, regardless of their size, to access financing at a 24% interest rate for the purchase of capital goods produced by domestic MSMEs. It covers domestic equipment or machinery.
The “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 MSME Plus line with minimum requirements. Financing for ARS1.08 billion has already been approved, out of which ARS752.5 million have been disbursed to 1,340 companies.
Additionally, companies that accessed the MSME 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 ARS263.88 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.
