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Banco Provincia loans exceed $500,000 for SMEs: which lines were most in demand

Banco Provincia loans exceed 0,000 for SMEs: which lines were most in demand

Nearly 17,400 companies have obtained production financing through Special prices through some of its lines. More than 50% of the amount Granted corresponds to a discount Electronic checks are among the lowest rates in the market.

Since its launch, RePyme . has been awarded Loans worth 503 billion pesos at reduced rates to 17,394 small and medium-sized businesses.

62% of the companies supported belong to the commercial and agricultural sectors, This ratio is shared equally. They follow: Services 18%, industry 17%, construction 3%.

RePyme was born from a political definition of a ruler Axel Kisilofor which the central role of public banks is to promote productive credit with a focus in small and medium-sized enterprises, in order to promote the development of the economy and generate good job opportunities. Banco Provincia President, Juan Cuatromo. He added, “In less than three years, our balance of loans to companies has grown from 28% to 52% and SMEs have increased their participation in the bank’s portfolio by more than 11%.”

The largest amount of funding was granted by discounting 470 thousand electronic checks with a total of 267 thousand million pesos. Banco Provincia implemented this new digital payment method in July 2020 and its adoption by SMEs was immediate, to the point that And the eCheqs deduction quadruples the deduction for paper checks, which hardly accumulates 63,500 million pesos.

Recently, the Public Bank of Buenos Aires launched a A new rate system that guarantees companies and individuals the best market conditions when obtaining a loan. The most convenient financing of productive sectors occurs precisely in Check Discount and Working Capital Loans through digital channels.

Working capital exceeded 170 billion pesos distributed over 38,290 credits. Within this number there are 5,474 loans managed online through BIP companies, The possible launch of Banco Provincia on the market in May 2021.

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Governor Axel Kiselov presented the Productive Financing Program for the Revitalization of Small and Medium Enterprises at the Provincia Bank in La Matanza, on February 5, 2020, as part of a set of measures from various regions of the provincial government aimed at rebuilding the productive fabric of Buenos Aires. Since then, RePyme’s various lines, all with reduced rates, have positioned themselves among the products most used by companies.

in geographical distribution, The largest number of loans was granted in the North Conorbanu region, with more than 74,500 million pesos.

They follow: kappa, 68,100 million; Western suburbs 50,600 million; Conurbano Sur, 41 billion; Bahía Blanca 35,800 million; Mar del Plata and its surroundings, 32,700 million pesos.

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