Friday, March 24, 2023

Banco de Reservas launches Expo Fomenta Pymes with interest rates from 12.95%

The Banco de Reservas inaugurated Expo Fomenta Pymes 2023, to be held from March 15 to May 15, with multiple facilities and benefits for small and medium-sized companies, in addition to contributing to national economic development, through special products and services for this sector.

Banreservas’ general administrator, Samuel Pereyra, announced a fixed rate starting at 12.95% and fixed terms ranging from six months to two years for commercial loans.

“This is an extremely attractive rate, which, together with the extremely advantageous opportunities and offers that Expo Fomenta Pymes brings this year, places Banco de Reservas at the forefront of financial support for entrepreneurs, small and medium-sized Dominican entrepreneurs,” Pereyra said. .

He explained that this financial entity has more than one hundred thousand SME clients throughout the national territory; and it has a deposit portfolio of RD$70,000 million, with which it occupies the first place in market participation in this line, with 31.3% of the total. The credit portfolio for this sector exceeds RD$64 billion, equivalent to 26.5% of the market.

The Minister of Industry and Commerce and MSMEs, Ito Bisonó, also spoke at the activity, who stressed that, as regards MSMEs that have been characterized by limited access to the formal financial system, “we have made progress in the implementation of different initiatives that promote the financial inclusion of these productive units”.

He added that among these advances is “the implementation of the Electronic System of Movable Guarantees, which strengthens the national guarantee system and allows companies to access financing in a more flexible way.”

He cited the progress that has been made in collaboration with Banreservas, through an agreement to implement the National Financial Education Program, aimed at boosting the competitiveness of this sector through training on digital transformation and financial education issues.

Ysidro García, Deputy Business Administrator, stated that Banreservas’ objective is for small and medium-sized companies to identify this fair as a great opportunity to opt for the necessary working capital, in order to consolidate their business; and that they can receive solutions that contribute to their development and growth.

trade show incentives

García announced that, as an incentive, the bank is offering this year two prizes of RD$250,000.00, where one of these will be awarded to a female SME; as well as two winners will be selected for the first year of the policy fee for commercial vehicle and commercial premises.

During the two months of the fair, special offers will be offered in allied businesses and financial education workshops, under the Preserva Program for SMEs; as well as talks on topics of great interest to SMEs, which will be given by representatives of Visa and MasterCard.

In the sixth edition of Expo Fomenta Pymes Banreservas, a digital experience will be maintained, through financing requests through the web portal and via WhatsApp 809-960-2120.

In the past editions of Expo Fomenta Pymes 2021 and 2022, a placement of more than RD$13,000 million was achieved, and support for projects of more than seven thousand SMEs, with extensive offers, special rates and conditions for commercial financing, as well as benefits and discounts in different business categories.

The inauguration of the fair took place in the Kennedy room of the Intercontinental Hotel, with the assistance of representatives of micro, small and medium-sized companies, as well as Banreservas executives.


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