Argentina, cradle of business unicorns, land that saw the birth of giants such as MercadoLibre, Globant, OLX and Despegar, to name a few. It is well known that quality human capital abounds in our country, and a good part of this talent is usually reflected in successful projects, especially when it has the support of local institutions.
“Argentine Entrepreneurship” is a program of the Ministry of Industry and Productive Development, under the Ministry of Economy of the Nation, whose purpose is to enhance the production process and/or increase the scale of ventures on Argentine soil.
Argentine Entrepreneurship: credit
To this end, the call for entrepreneurs will be reopened to present their projects in order to access a loan of between 10 and 50 million pesoswith an interest rate that is more than attractive in this context of inflation: 25% annual nominal to accrue from the disbursement date.
- 25%
- It is the annual nominal interest rate for the credits granted by the Argentine Entrepreneurship program.
The repayment term is 51 installments monthly, equal and consecutive, with a grace period of 9 months counted from the date of loan disbursement. Therefore, the total term will be 60 months (5 years).
Argentine Entrepreneurship: recipients and requirements
The program is aimed at micro, small or medium-sized companies whose constitution date does not exceed 7 years at the time of submitting the project. Those projects corresponding to sectors that “seek to transform the productive and technological structure of the country” will be prioritized, such as: oil and gas and mining value chain, food production, digitization, medical cannabis and hemp for industrial use, defense and national security, green economy, health and sustainable mobility.
In addition to a maximum of 7 years of life, the presenting entities are asked to “have a minimum of a financial statement presented and audited that reflects sales in the last financial year required by accounting and corporate regulations” and “with classification of Situation 1 or no existence of registered debts in the Central Debtors of the Financial System, according to the Central Bank of the Argentine Republic”.
Those projects corresponding to sectors that seek to transform the productive and technological structure of the country will be prioritized.
In addition, they are required to have a valid MiPyME certificate, to be registered in the Single Registry of the Productive Matrix (RUMP) and have a guarantee for 100% of the requested amount.
Argentine Entrepreneurship: dates and bases
The Argentine Entrepreneurship Program already had a first call. Such call was extended from November 16 to December 22, 2022.
However, there will be a second and final registration period. This second call of the convocation starts next Monday, March 6 and ends on May 5, 2023. You can access the bases and conditions here and the instructions to register from the date indicated here.
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