Flexibility of the SGR system to grant credit to SMEs

The Ministry of Production yesterday announced changes in the system of mutual guarantee companies (SGR) to facilitate access to finance for SMEs and increase financial inclusion. Small and medium-sized businesses will now be able to access the guarantees in less time and at a lower cost. In addition, it simplifies RMS operations "by enabling them to provide a more agile, dynamic and efficient service."

"We are aiming for 2023 between the RMS system and the complementary public system, FOGAR, we reach some 100,000 SMEs with endorsements, "said Mariano Mayer, secretary of entrepreneurs and PYME, in dialogue with the press.The changes will allow SMEs with valid guarantees to go from 14,500 this year to 50,000 in 2023, to which should be added the impact of the Argentinian Guarantee Fund (FOGAR) for SMEs, so that the amount of the current guarantees reaches 100,000 five years.Today, there are 14,000 SMEs with guarantees in effect for $ 38 billion, granted by 32 SGR

On the one hand, requests for RGS, in volume granted to SMEs, will be more important to access the tax break, pbading 80% leveraged by 130% of the Risk Fund (FR). the requirement for increases and reimpositions, it goes from 160% to 200% of the leverage effect of the FG

An administrative simplification is sought both for SMEs (simplification of credit record, elimination of counter-guarantees) as for the RGP (less requirements for the opening of new RGPs, badysis of the status of the Pyme through the SME certificate, a lower periodicity in the reports of the external auditors). There are doubts about the effectiveness of the changes, as up to now, 350 000 SMEs have joined the SME Act (27 264) out of a total of more than 800 000 SMEs in the world. the country.