Overview
- Two public banks announced credit relief after a severe storm damaged towns on the Atlantic Coast and parts of Patagonia.
- Banco Nación is offering businesses loans up to 100 million pesos per user with a 50 million cap for working capital and a 2-point rate discount for the first 24 months.
- For investments, Nación sets terms up to 60 months and up to 36 months for working capital, with as much as 12 months of grace on principal payments.
- Nación also grants individuals a 90-day extension on current payments, 90 days before new personal loans start to amortize, and a 6-point annual discount on select personal credit lines.
- Banco Provincia created a fixed-rate line for affected Buenos Aires localities with up to 40 million pesos for companies at 26%, up to 10 million for individuals at 28%, and microloans up to 50 minimum wages at 34%, with up to 48 months to repay and a 12-month grace period plus sworn statements, proof of damage, and site checks required.