The President of CONAMYPE, Paul Steiner, said that, with this fund, any bank, cooperative and FECAMYPE will have access to these guarantees so that micro and small entrepreneurs can obtain this loan.
Once the deed is signed, the funds come from the Ministry of Finance, BANDESAL administers them and CONAMYPE directs and directs the trust.
The trust is constituted together with BANDESAL and responds to the stipulations of article 50 of the Ley de Fomento MYPE, reformed in june 2021.
According to the head of CONAMYPE, this fund was created in response to the lack of access to institutional financing, mainly due to low credit bureau ratings. He added that the applications will be endorsed by a specialized board of directors.
The President of BANDESAL, Mario Salazar, affirms that the inflationary condition and the increase in the price of money are affecting lower margins of the MSEs, dedicated to productive transformation activities.
Steiner adds that among the main problems faced by MSEs are exclusion from banking, no financial reserves, invoicing less than US$2,444.00 per month, 95% are subsistence, usury and cash transactions.
He also said that the informal sector in the country supports almost 75% of the population, produces 77% of the jobs, most of these companies are led by women.