The Women Undertake Fund and Bancóldextogether with the Vice Presidency of the Republic, the Presidential Council for Women’s Equity and the Ministry of Commerce, Industry and Tourism, launched the Women Entrepreneurs Credit Line of the Women Emprende Fund, which offers preferential conditions in terms of terms, periods of grace and incentives for micro, small and medium enterprises that are led by women, are owned by them, or that at least half of their staff is female.
The product allows these companies to access credits that are used to cover working capital expenses, such as the purchase of raw materials, supplies, leases, payroll, among other costs related to the start-up of growth projects and modernization of business.
The vice president and chancellor, Marta Lucía Ramírez, indicated that with this line of credit, $20.3 billion are available through commercial banks and microcredit-oriented entities.
“This is one of the ways to close the gender gap and end inequalities in the country,” said the senior official,” said Ramírez.
Among the facilities, credits of up to $250 million per company can be accessed, with maximum terms of up to 3 years, a 6-month grace period for working capital, and up to 5 years with a 6-month grace period for modernization.
“This credit solution will benefit businesswomen from all regions, with resources under favorable conditions, in a context of economic recovery that will help boost their companies with access to preferential financing. We invite businesswomen to ask their trusted financial entities about this line”, said Javier Díaz, president of Bancóldex.
Entrepreneurs who request the credit may also have an additional 1% discount on the final rate offered by the financial institution, on the condition that since the start of the pandemic they have generated at least one new formal female job, have carried out an export for the first time, or have increased their sales by at least 3.6%
“In this government we have placed women at the center of public policy and have made them the protagonists of economic development. We invite businesswomen to continue betting on their productive projects so that they are profitable, sustainable and scalable and turn Colombia into a nation of entrepreneurs”, said the Presidential Advisor for Women’s Equity, Gheidy Gallo Santos.
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