translated from Spanish: With flexible rate and financing until 2028: Treasury entered project that establishes Fogape 2.0 with state guarantee

On Monday, Finance Minister Ignacio Briones announced that a bill establishing the delivery of a State-guaranteed Fogape 2.0 credit will be made. As indicated by the Secretary of State, the initiative will enter Congress with immediate discussion.
“We have worked hard to get this bill done with the parliamentarians – who made the request for this short law – which we are now entering Congress with immediate discussion,” Briones said, according to Emol.
In addition, the administrator of the tax coffers valued the project as “a very valuable signal for SMEs and entrepreneurs”.
As indicated by Briones, the project will be discussed in the House Economics Committee. In particular, the initiative will consist of maintaining the Fogape-covid line and creating a Fogape-Reactiva line, which will have a more flexible rate and allow funding until 2028.
“In the Fogape-covid line, the traditional one, we have expanded the deadline by one year, that is: before I had to pay 48 months and we have given 12 more months, so that those companies that are already coming to maturity or are starting to pay the first credits, can have a trading space with banking either to extend the deadline , either to negotiate some grace period or to lighten the financial burden at the same original rate,” Briones said.
With regard to the application period, the owner of the Treasury reported that it will run from April to December 2021, emphasizing that “we want the sectors most affected, such as tourism and gastronomy, to have a greater guarantee than they do today, to facilitate that access to credit”.

Original source in Spanish