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NEW FUNDING TOOL FOR SMES AFFECTED BY THE HEALTH EMERGENCY

Through the Agency for the Development of Santa Fe and the Region, new loans will be implemented for companies in the provincial territory, up to 250 thousand pesos and with an interest rate of 18% per year, fixed and in pesos.

NEW FUNDING TOOL FOR SMES AFFECTED BY THE HEALTH EMERGENCY

The Minister of Production, Science and Technology, Daniel Costamagna, participated in the presentation, by the Agency for the Development of Santa Fe and the Region (ADER), of a new funding line for MSMEs of primary production, industrial, commercial or services affected by the health emergency caused by Covid-19.

The new credit tool is intended for the acquisition of working capital and investments amounting to up to 250 thousand pesos and with an interest rate of 18% per annum, fixed and in pesos. As long as an administrative expenditure of 4% and a third party's endorsement should be provided for the satisfaction of the ADER Directive Commission as collateral. The payment terms are up to 21 months and three months of grace, during which only the corresponding interest will be required.

At the time, Costamagna stated, "In Santa Fe, because of the productive, commercial and industrial activities, sustaining Santa Fe productive and health issues is a challenge. It is a complex reality because of the characteristics of the province and requires a huge effort from the public and private sectors, and from all the Santafesinos. These days we want to value the results we are having in agro-industrial, agro-export, agri-food and in many industries and businesses in the province, which are working thanks to the efforts they make every day."

"Today the Agency presents a funding line generated from provincial funds. This is a scheme that was designed when Governor Perotti was a minister. Agencies and development partnerships are structures that need to be valued, because they enable us to reach in time those who find have difficulties, not only in terms of working capital, but also with the possibilities of investing in capital goods. We do know that at the moment the situation of banks with regard to companies is not the best. In this context, these are the measures that the government of the province has arranged and strengthened," he added.

Finally, the minister stressed, "Resources are available through this scheme and can be allocated to entrepreneurs, commercial, industrial and service micro-SMEs. On our part, we will continue to accompany and strengthen more than ever the presence in the territory, because these associations are in almost the whole province and contemplate all the towns in it".

On his part, the President of ADER, Carlos Fertonani said: "From the agency we prioritize health, the economy of Santa Fe and the development network. With this tool we make available credits for companies, mainly family SMEs, companies that 130 days ago did not see this crisis coming.

In turn, the Secretary of Territorial Development, Fabricio Medina, valued the decision to deliver these funds to people also through agencies and associations, since the fund was constituted with mutual associations. In addition to the scheme of agencies and development associations throughout the province, which up to date amount almost 120 million pesos, there are 300 million more pesos that are constituted for mutual associations, in a scheme of articulation between INAES, mutual federations and the government of the province of Santa Fe , a line that can also be accessed by non-banked sectors."

Finally, the senator for the Capital department, Marcos Castelló, remarked the importance of the work attained, and the added, “These are the answers the people are waiting for, that's why I am always available. We have district with a huge variety in terms of its production and that today does not have a good time, so this is a cool breeze, trying to accompany the difficult moments".

Besides the aforementioned authorities also participated in the launch: the President of the Commercial Center of Santa Fe, Martín Salemi, of the Industrial Union of Santa Fe, Amadeo Formizano, and the President of Apyme, Mario Galizzi.

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