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Argentina expands financing for entrepreneurs by about $ 5 million


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Sep 14 2021

The Argentine Ministry of Productive Development, through the Secretariat for Small and Medium Enterprises, decided to increase the resources of the Trust Fund for the Development of Entrepreneurial Capital (Fondce) by 500 million pesos (about 5 million dollars).

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Argentina expands financing for entrepreneurs. – Image by Firmbee from Pixabay

The money is intended to grant loans to ventures or venture capital institutions, to support entrepreneurial projects. In addition, the initiative contemplates the concession of Non-Refundable Contributions (ANR) for enterprises, entrepreneurial capital institutions and institutions of incubation or business acceleration services, among others.

The initial call had a budget of 500 million pesos, but given the large number of projects that were presented, they decided to add 500 million more, which is divided into 200 million for the Fondce trust and 300 million to carry out a second call.

The program is aimed at developments that have a minimum viable product launched on the market and / or that have made their first sale and wish to scale their production. Those entrepreneurs who have a product or prototype tested in its operation and need to complete the registration for its commercialization can also participate.

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