Luis, Arce Catacora, the Minister of Economy and Public Finance, launched the first two credits with the warranty of Propymefor two entrepreneurs who work on clothes manufacture and construction raw material transportation.
With the warranty of the Credit Fund for micro small and medium sized business (Propyme), UniónBank granted, on Thursday March 18th , the first two credits to undertakers from Cochabamba for an amount of Bs. 669.120
Minister Arce Catacora travelled to Cochabamba to, personally, promote andlaunch this program created to motivate business people of micro, small and medium sized enterprises facilitating them the access to loans within the local banking system.
José Luis Zequita Chambi,T-shirt manufacturer was granted a loan of Bs. 348.500 as an investment capital with a 6 year term. This small business owner had lack of warranty to entrust a loan by himself for the construction of hisworkshop, lack that was covered by Propyme on about the 36%.
As well, Cristina Ricaldez de Gumucio, an entrepreneur working on construction raw material transportation was given a loan of Bs320.620 with a 7 year term which will be spent to purchase a truck and being benefited with the 50% of the necessary warranty from Propyme.
The Propyme Warranty Fund was officially presented on February19 and was created to allocate warranties up to the 50% of the capital loaned by private banking to micro, small and medium sized business.
Through this project, the government seeks to impulse theaccess to credits for productive enterprises that nowadays cannot be granted of a loan because of lack of warranty. The creation of Propyme Unión Fund was supported and promoted by the Ministry ofEconomy and Public Finance that acknowledges the importance of the productive sector specially as an employment generator.
The Credit Warranty Fund for Pymes will not only facilitate access to...