Entrepreneurs: how to access loans of up to $6 million to grow your business

Entrepreneurship in Argentina has received a significant boost with the introduction of new credit programs offering up to $6 million to support business growth. The initiative, launched under the Córdoba Emprendedora program, is being administered jointly by the Secretaría General de Hábitat y Desarrollo Emprendedor and the Fundación Banco de Córdoba. These credits are interest-free and designed to help entrepreneurs invest in their ventures, professionalize their operations, and expand their businesses. The program offers two distinct lines of financing. One provides up to $4 million for the purchase of supplies, tools, and machinery, while the other extends up to $6 million for acquiring capital goods. To date, these funds have been allocated across a wide range of industries, including gastronomy, engineering, metallurgy, clothing, ceramics, software, upholstery, and more. This diverse allocation highlights the program’s broad reach and its potential to stimulate economic activity in multiple sectors. Laura Jure, the secretary general of Hábitat y Desarrollo Emprendedor, emphasized the importance of providing accessible credit to entrepreneurs. She noted that such financial support is unique within the country and underscores the government's commitment to fostering innovation and employment. According to her, the low default rate, currently below 1%, demonstrates the effectiveness of the program in creating a sustainable economic cycle. Several local brands have already benefited from these loans. Milagros and Victoria, founders of By Carnaval, a women’s fashion brand, used the credits to develop proprietary patterns and launch a more professional fashion campaign. They described the assistance as transformative, enabling them to establish a stronger identity for their products. Agustín, owner of Alfombras Futboleras, a company specializing in football-themed rugs, explained how the funding helped him scale his operation. He invested in acrylic wool, adhesive, fabric, and machinery, significantly improving production quality. His venture taps into the emotional connection fans have with their clubs, leveraging passion to drive business growth. Carla, behind the tea blend project Ciento Ocho Veces, shared how the credits facilitated expansion. Initially easy to access, the loans allowed her to complete national food registrations, opening doors to broader markets. She expressed optimism about future opportunities, noting that the support enabled her to think bigger. To qualify for the credits, applicants must meet several criteria, including having a business operational for at least one year, holding tax registration, presenting cash flow statements, and providing collateral. Applicants must also not have existing credit with the Fundación Banco de Córdoba. Repayment terms allow up to 21 monthly installments, which can be adjusted based on the Consumer Price Index (IPC). For detailed information and to apply, interested parties can visit the official website at https://www.fbco.org.ar/. Those seeking further assistance can contact the team via phone at 0351 4228499, 4252055, or 4281833, or email [email protected].