10.02 million in loans for cultural SMEs launched, with one year’s grace

The Government and Banco Nación launched a new line of financing for SMEs in the cultural sector, for a total amount of 750 million pesos ($10.02 mn), with a subsidized rate and a year’s grace. The loans will have a term of up to 24 months, with a one-year grace period on the capital, and a FOGAR guarantee, which will cover 100% of the loan. The companies will have a zero rate from quota 1 to 12 and 18% from allocation 13 to 24. They will be able to ask for a maximum of 2.5 months of invoicing with a ceiling of 7 million pesos ($93,543).

Source: Ámbito