San Juan.– President Luis Abinader delivered RD$85 million in loans to 400 micro-entrepreneurs and entrepreneurs in San Juan, through the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme), and announced the expansion of the “Your Signature is your Guarantee” program, with the goal of facilitating access to financing for more entrepreneurs, strengthening MSMEs, creating jobs, and boosting the province’s economy.
The event was held at the Monsignor Reynaldo Connors Convention and Evangelization Center, on the occasion of the program’s first anniversary.
Abinader highlights the program’s impact
During his speech, the president explained that “Your Signature is your Guarantee” was born in San Juan de la Maguana after listening to female entrepreneurs who could not access Promipyme loans due to lacking a guarantor or co-signer.
He/she indicated that many resorted to informal loans with high interest rates, a situation that motivated the creation of this initiative.
Abinader stated that the program has become a tool for economic development and social justice, by allowing micro and small entrepreneurs to access financing to grow their businesses.
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Likewise, he announced that the Government will continue strengthening the program and expanding Promipyme’s credit portfolio to benefit a greater number of entrepreneurial women and men.
The president also highlighted the growth in financing allocated to the agricultural sector and reiterated that he will continue to promote policies to expand credit opportunities for MSMEs, considering that supporting entrepreneurs strengthens businesses, creates jobs, and contributes to the development of communities.
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Gómez Mazara highlights support for MSMEs
The director of Promipyme, Fabrizio Gómez Mazara, highlighted that the program seeks to eliminate one of the main barriers that micro-entrepreneurs face in accessing credit: the lack of a guarantor or co-signer.
He stated that President Abinader will go down in history for the support provided to micro, small, and medium-sized enterprises through financing policies, capitalization, and the removal of obstacles to the sector’s growth.
He reported that, since its creation, the program has placed RD$979.3 million, equivalent to 8.2% of Promipyme’s credit portfolio, with the purpose of expanding access to formal credit and reducing dependence on informal financing.
He also highlighted that 62% of the loans granted during the day were destined for businesses led by women, reflecting the female prominence in productive activity.
Furthermore, he pointed out that the transfer of RD$1.5 billion made by the Government allowed for a 39.3% increase in Promipyme’s credit portfolio, which currently amounts to RD$11,991.7 million.
Guidance for entrepreneurs
During the activity, participants received information about the different financing alternatives available, guidance on the mechanisms to access credit, and advice on how to invest, expand their operations, and strengthen the productive capacity of their businesses.
Beneficiaries appreciate support
The governor of San Juan, Ana María Castillo, thanked President Abinader and Promipyme for supporting the province’s entrepreneurs, noting that the loans represent an opportunity to strengthen businesses, create jobs, and improve the quality of life for families.
On behalf of the beneficiaries, entrepreneur Wanda Ramírez expressed her gratitude for the support received to strengthen her business Nelly Snap Service, highlighting that the credits, along with the guidance and training offered, have allowed her to grow and contribute to the economic development of San Juan.
The blessing of the event was led by Father Ramón Emilio Rosario, parish priest of the Cristo Rey church and also a beneficiary of the program, who valued Promipyme’s support for men and women who seek to turn their ideas into productive projects and generate well-being in their communities.
