Special Financing Program for the property units to promote Social Property Units that fortify the Communal Economy

OBJECTIVE

A program destined to financing the Social Property Units, such as the social productive common organizations, communal counsels, direct or communal social property enterprise, indirect social property enterprise and any other form of association in the community, whose objective is to carry out any type of economic productive activity, financial or commercial lawful, in search of the collective benefit and satisfying the needs of its inhabitants, that will fortify the communal economy.

LOAN'S DESTINY

FIXED ASSETS

• Construction or Acquisition of Industrial Business or Shed.
• Machineries and Equipments.
• Enlargement and improvements of the Industrial Plant.
• Structure and Machineries and Equipments Installation and Assembly.
• Cargo Transportation (with 2,500 to 4,500 Kg capacity), and all the required for the Industry and connected services. The following accessories can also be financed: Cellars, Platform, Railings or Stakes, Refrigerating Unit. The insurance for the vehicle can also be financed during the first year of the financing.
• Passenger Transportation Unit for tourist development.

WORKING CAPITAL (Up to three months of operations)

• Commodity.
• Salaries and corporate agreement advances.
• Operating Expenses.
• Real estate Rental, if was the case.
• Intangible (investment needs, formulation of projects, industrial diagnosis, among others).

FINANCING AMOUNT

• JOINT COMMUNITIES: Up to Bs. 2,000,000.00
• COMMUNITIES: Up to Bs. 600,000.00 Interest Rate

INTERES RATE

• Applicable Rate: From 0% up to 4%

FINANCING TIME LIMIT

Up to ten (10) years, and up to three (3) years of grace period.

The communities should begin the project in a one (01) year interim from the delivery of the first disbursement.

The grace period will not be computed for the financing period.

GUARANTEES REQUIRED

For acquisition of working capital:

• Supportive and unlimited Bail of the administration instance of the Communal Bank of the association or the community, chosen by means of Citizens or Civic Assembly, presenting legible copies of the identity cards of the members of the Financial Management Unit and if married include copy of the identity card of the spouse.

Acquisition of fixed assets::

1. Real Estate:

• First (1er) degree Mortgage on the real estate to be acquired or built.

• First (1er) degree Mortgage on the real estate of his (her) property

2. Chattels:

• Furniture Guarantee, on the machineries and equipments, in the cases of acquisition.

In case of a transportation vehicle:once the unit has been acquired, a certificate of origin with the name of the beneficiary and with domain reserve in favor of INAPYMI should be consigned, as well as copy of the insurance policy

ORIGEN DE LOS RECURSOS

RECURSOS PROPIOS