2023-04-25 23:50:24
corfo y State Bank they announced “ProInvestment Scale“, a new warranty for enterprises and startups from the portfolio of the state agencywhich gives a 80% coverage for credits of a maximum of UF 100,000.
The initiative, framed in the 80th anniversary of the Production Development Corporation, was directed to companies supported by any of the instruments of the Entrepreneurship, Start-Up Chile, Networks and Territory, Technological Capacities and/or Innovation management of the Corporation.
“We want to help those who are part of our portfolio and today they need financing to continue to grow and scale their business. The grace is that, with this coverage, all of them will be able to access these credits more expeditiously with BancoEstado”, highlighted the Investment and Financing Manager of Corfo, Francisco Meneses.
Application requirements
The companies that can participate in the process, in addition to complying with the above conditionsalso they must hit:
– Being micro, small, medium and large companies with sales up to UF 600,000 per year (VAT excluded) with growth plans, acceleration and/or innovative solutions.
– Has a letter of recommendation from the respective management or Corfo committee (not older than 12 months at the time of completion of the operation that avails itself of the coverage).
On the contrary, they will not be able to request coverage companies with mora superior a 60 calendar days during last 12 months in the financial institution where the credit is requested, and companies with requests for collection in Corfo of contingent subsidy (coverage)registered in the last 5 years.
Verónica Kunze, Vice President of BancoEstadoaffirmed that “we are very happy to participate in this important launch, which relieves a collaborative work with Corfo to promote innovative ventures with growth potential. Part of the role of public banks is to promote innovation in the country, promoting access to better financing for those innovative companies that need a boost to continue growing. We are working on different initiatives that connect us even more with the innovative ecosystem”.
Companies nationwide recognize the value of the initiative
To date, three of the enterprises that have accessed financing via “Escala ProInversión” are Fraction, Algram and Polyglot.
All of them had a coverage rate of 80% for your credits totaling more than $967 million pesoswhich were destined in a 65% for working capital and 35% for investment.
In this sense, the executive director and founder of Fracción, Javier Vegacommented that “Corfo and BancoEstado are opening spaces to entrepreneurs from all over the country for encourage social innovation throughout Chile. Many startups are seeking to put creativity at the service of communities, directly improving their quality of lifeso the support provided by the State is vital for their development and increase their impact.
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