Monday, 25 January 2021 19:21

BANDESAL launches 11 new lines of credit to support MSMEs

Written by Cindy Moreno

The Development Bank of the Republic of El Salvador (BANDESAL) launched its new commercial offer that includes eleven new direct credit lines, four special lines of credit and eighteen lines of guarantees, under favorable conditions to support entrepreneurs and sectors of the economy.

BANDESAL is a 360º bank, with a different approach, which must be omnipresent in the economic and social activity of the country", said BANDESAL's president, Juan Pablo Duran.

Currently, BANDESAL has a specific regulation for Development Banking, which was issued by the Central Reserve Bank (BCR), and allows granting direct credits to the productive sectors, improving conditions and expanding its offer.

The official explained that the eleven new direct credit lines have been created with the purpose of supporting productive sectors that need financial support to improve their productivity, and competitiveness in the market.

These lines will provide support to Salvadoran Micro, Small and Medium Enterprises (MSMEs) and entrepreneurs to obtain financing under favorable conditions.

The new commercial offer, called "Crece cada vez más", consists of 11 new lines of credit, 4 special lines, and 18 lines of guarantees for companies that have been affected by the health emergency in the country.

The new lines are: Multidestination, Agroindustry, Agro, Coffee, Construction, Sugarcane, Creative Economy, Capital Replacement, Consolidation of productive debt and refinancing. The holder also explained that the 4 special lines are: Banca Mujer, Banca EmprendES, Energy Efficiency for SMEs and Microcredit, through which the local economy will be boosted with projects that improve social and environmental conditions.

The bank's president also emphasized that the technical offer of the Centro de Entrenamiento y Desarrollo Empresarial (CEDE) is available to salvadoran businessmen and entrepreneurs, with a broad curriculum consisting of three levels: basic, intermediate and advanced, with the aim of improving the skills of the sectors.

The launching of the new BANDESAL is part of the strategies to dynamize development and the economic reactivation plan to support the productive sectors that were affected by the COVID-19 pandemic.

Last modified on Monday, 25 January 2021 19:26