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Banco Ciudad launched a new line of credit for women entrepreneurs

It seeks to promote the development of its activities through financing and training.

Politics and Economics

Women entrepreneurs with formal and informal activities are recipients of the new line of credit presented by Banco Ciudad, which seeks to promote the development of their activities through financing and training.
This initiative was presented today by the head of Government of Buenos Aires Horacio Rodríguez Larreta and has as its main objective to generate instruments for accompaniment and access to bank loans that serve as a response to the needs identified in a survey carried out to women porteños with ongoing ventures, the government said through a statement.
The line has two options. The first is for independent and mono-tributer entrepreneurs who are registered as MSMEs with a year of commercial activity. For them, a maximum amount of $100,000 for Working Capital is provided, up to 36 months.
The second option is for entrepreneurs with formal business activity, whether independent or monotributist, or informal, with a one-year seniority in the work carried out. In these cases, a maximum amount of $250,000 is granted for Working Capital, for 48 months.
The specific training proposal accompanying the credit is completely free of charge. It includes face-to-face or virtual workshops through the SME Institute that deal with legal and tax keys for business and the benefits of the Entrepreneurs Act; training with topics such as financial planning, digital marketing and how to successfully link with a bank; and motivational talks on leadership with a gender perspective.
The first face-to-face activity will be held on February 20, with the theme “How to boost sales in social networks”, to be held at the headquarters of Banco Ciudad in Sarmiento 611. Registration is online at https://potenciarventasenredessociales.eventbrite.com.ar.
This proposal arose from the results of a study that collected the opinions of more than 100 women entrepreneurs, of whom 81.5 percent are dedicated to clothing, crafts, gastronomy and decoration, as well as services such as design and communication, audiovisual, administrative and accounting consulting, among others.
According to the survey, half of women use digital media as the main channel for generating, disseminating and selling their products and/or services. In 72.2 percent of the cases, respondents stated that there are relevant needs not met by institutions or organizations regarding the flexibility of borrowing requirements and legal, tax and training advice.

Source: Télam

Publication Date: 11/02/2019

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