translated from Spanish: Launch credits for refurbishment of open spaces in bars and restaurants

From the Ministry of Productive Development and Banco Nación (BNA) today launched a $1 billion line in soft credits for the overhaul of open spaces in restaurants and bars at the arrival of winter, as part of the measures to assist critical sectors affected by the second wave of Covid-19.The credits will be up to $3 million and will have a period of 36 months of repayment and 12 months of grace , so those who access will only start paying it in May 2022, with a 0% rate for the first 12 months and a 10% rate for the remaining 24 months.

This line will be fully endorsed by Guarantee SGR and the Argentine Guarantee Fund (Fogar), and intended for gastronomic SMEs to make readequations in their premises for the arrival of winter, such as the purchase of heating elements, insulation, parasols, gacebos and other tools for outdoor care. The Minister of Productive Development, Matías Kulfas, said: “This is a line of equipment so that gastronomic premises can be capitalized and that are elements that can be used in the future. We are fully aware that they are mitigating elements in a difficult situation that crosses the gastronomic sector, but we will continue to accompany them with credit instruments and subsidies, in addition to the constant dialogue for the calibration of the tools adjusted to each moment of the pandemic.” This is a joint work among public bodies in which, in a first stage, Banco Nación will put $1 billion to attend one of the activities most punished by the pandemic, with the novelty that they will also be able to access monotributists from the lower steps,” said Eduardo Hecker, president of the BNA.

For her part, the holder of the Gastronomic Hotel Business Federation of the Argentine Republic (Fehgra), Graciela Fresno, requested that “flexibility in conditions make many establishments quickly accessible to help”. The recipients of the credit include companies, self-employed and mono-attribute (categories A to K) with a valid MiPyME certificate with an age of 12 months in force in the market. Credit amounts for mono-allocators vary according to the category of $100,000 to $500,000, while for freelancers and companies the maximum will be up to four months of applicant sales, with a maximum of $3,000,000.The Nation Bank will be able to make direct payment for premises that require it by filing the supplier bill and affidavit , which seeks to speed up access to loans.

Original source in Spanish

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