Micro, small and medium exporting companies ( SMEs ) will have a new source of financing for maximum amounts of almost $1 million and a term of up to 15 years, thanks to the Financing Program for Exporting MSMEs that will work with $50 million from the Banking Development System (SBD).
The initiative consists in the granting of credit and guarantees to exporting MSMEs, with the purpose of impacting on the generation of employment, chains and local economic development.
The new financing may benefit more than 1,300 small businesses and 500 medium-sized companies linked to the export sector and that meet the requirements to be beneficiaries of the SBD, as well as local suppliers related to their value chain.
The lines of credit that will be available are:
-Investment credit: for construction or renovation of infrastructure, automation of plants and equipment, strengthening of its technological platforms, purchase of work vehicles and other investments of the export activity.
-Credit for working capital: to export merchandise, import raw materials, certifications and other qualifying needs within the category.
-Credit for productive chains: financing to suppliers directly related to the value chain of the exporting MSME.
The Ministries of Economy, Industry and Commerce (MEIC) and Agriculture and Livestock (MAG) participate in the implementation of the program, with the support of the Foreign Trade Promoter (PROCOMER).