The Minister of Economy and Finance (MEF), Carlos Fernández, highlighted the soft loan program designed to provide MSMEs with access to low-rate, flexible-term loans, which has already generated G. 400 billion in loans since its launch in September 2024.
“We designed a special program for MSMEs at the Ministry of Economy and Finance (MEF) and we’re doing it through the National Development Bank (BNF). It was launched in September of last year, and six months later, we have almost 4,000 loans totaling approximately 400 billion guaranties for MSMEs,” he explained in an interview with Radio Nacional del Paraguay.
The credit lines are for 10 years with a two-year grace period and an interest rate between 9% and 9.5%, except for loans requested for debt repurchase, which have rates between 11% and 12%.
“Financial conditions are impossible to improve for MSMEs, and the BNF is offering them, so I invite people to come to the bank to learn about this special financing line for MSMEs,” he said.
The government’s proposal is for micro, small, and medium-sized enterprises (MSMEs) to access credit for three areas: investment, working capital, and debt purchase.
During the last MSME Forum, in September 2024, the “National Plan for Digital Transformation and Financing for MSMEs” was presented, and Paraguay’s President has often spoken in favour of supporting MSMEs through finance. Its measures include the current credit offering and measures to simplify procedures and provide advantages to startups and small businesses that have registered their “MSME ID Card” with the Ministry of Industry and Commerce (MIC).
