$20.3 billion line of credit launched for businesses run by women

Women’s Enterprise Fund and BancoldexThe Vice Presidency, together with the Presidency Women’s Capital Council and the Ministry of Commerce, Industry and Tourism, launched the Women Entrepreneurs Credit Line of the Women’s Impregnation Fund, which offers advantageous conditions in terms of maturity and grace periods. Incentives for micro, small and medium-sized businesses that are female-run, self-owned or staffed by at least half women.

The product allows these companies to access loans used to cover working capital expenses such as purchasing raw materials, supplies, leasing, payroll, among other costs associated with the implementation of growth projects and business modernization.

Marta Lucía Ramírez, vice president and chancellor, stated that with this line of credit, US$20.3 billion is available through commercial banks and microcredit-focused institutions.

“This is one of the ways to close the gender gap and end inequalities in the country,” said senior official Ramírez.

Up to a maximum of 3 years, up to a maximum of 3 years for facilities, up to 250 million USD per company, up to 6 months for working capital, up to 5 years for modernization with a grace period of up to 6 months.

“This loan solution will benefit businesswomen from all regions with resources under favorable terms in the context of economic recovery that will help increase their companies’ access to preferential finance. “We invite businesswomen to ask trusted financial institutions about this line,” said Javier Díaz, president of Bancóldex.

Entrepreneurs applying for the loan can receive an additional 1% discount from the final rate offered by the financial institution, provided that they have created at least one new official women’s job since the beginning of the pandemic, have made an export. or increased its sales by at least 3.6%

“In this government, we have placed women at the center of public policy and made them protagonists of economic development. We invite businesswomen to bet on their productive projects to be profitable, sustainable and scalable and to make Colombia a nation. Entrepreneurs”, Adviser to the President for Women’s Equality Said Gheidy Gallo Santos.

Source: Lare Publica

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