2023-12-31 16:09:19
As ‘drop a drop’ is known in Colombia as the loans made by private with very high interests that those who take them must pay daily to the lenders, who often resort to violence, even murder, to collect the debts.
This criminal form of credit has expanded since Colombia to most of the Latin American countries, especially to Ecuador, Peru, Bolivia, Mexico, Honduras, El Salvador and Guatemala, and even those of the southern cone, where mafias operate that take advantage of the difficulties of the poorest in accessing traditional bank credit.
For this reason, the Government stressed this Wednesday that the Believe is a financial instrument that “seeks to promote inclusion, banking and open spaces for formalization through low-amount credits for the agricultural sectors and not agrarian.”
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The new credit linecreated by a decree of December 11, is aimed at people who need loans but they lack guarantors and other guarantees required by the banking systemand gives them terms of up to 24 months to pay.
The loans will be facilitated since the Government acts as a friendly guarantor through the National Guarantee Fund and the Agricultural Guarantee Fundso it does not require a co-signer.
“The Creo credit line is a fundamental tool to promote formal credit for the popular economy with very special conditions that generate a change in credit matters for the history of the country,” said Rogelio Rodríguez Castillo, advisor to the Office of the Ministry of Finance. , cited in a statement from the Presidency.
This line of credit has the support of the ministries of Finance and Public Credit; Commerce, Industry and Tourism, and Agriculture and Rural Development, as well as various State financial institutions.
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It is estimated that in the country there are some 23 million peoplealmost half of its population, who have little or no access to traditional credit services and, according to a study by the firm TransUnión Colombia, 1.3 million consumers opened their first credit product in 2021 and another 1.5 million did so in 2022.
What are the requirements to access the line of credit?
The credit line It was formalized by decree 2120 of 2023, issued on December 11.
There, they indicate that credits may be granted individually, in groups or as associations to natural persons, legal entities or groups of people that meet the access conditions.
Among the requirements are:
– Be natural persons or legal entities.
– To be adultsin the case of natural persons.
– The definition of small low income producer established by the National Agricultural Credit Commission – and/or belong to groups A, B or C of the Sisben IVor the equivalent in the system that replaces it in the future and/or have annual income less than 50 minimum monthly salaries, as applicable.
– Use credit to finance projectsproductive activities or assets, whether to cover: Working capital or investment needs or replacement of liabilities with the real sector.
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– Not having received credit or having current credit operations in the last two years prior to applying to the I Believe Program, with Credit Providers.
Regarding loan limits, for the non-agricultural sector, the maximum amount is $2 million with up to 12 months of term. On the other hand, for the agricultural sector it is up to $4 million, with a 24-month term.
*Information taken from Vanguardia.
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