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Lines of credit available to leverage your business

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Banco Agrario de Colombia has several lines of credit so that entrepreneurs in the agribusiness and food sector can leverage their businesses. Many of the loans have economic benefits that came into effect during the economic emergency caused by Covid-19.

1.    Current rediscount resources Finagro

These are ordinary working capital and investment lines of Finagro (Fund for the Financing of the Agricultural Sector), with conditions in accordance with the productive activity and competitive rates for clients.

• Finagro Working Capital: Destined to plant short-cycle crops, sustain agricultural and livestock crops, working capital for transformation, commercialization, and support services for productive activities.
• Finagro Investment: Activities are financed for the establishment of medium and late yield crops, infrastructure, machinery, among others.

2.    Own Resources Avanza Colombia

It is a line of credit for companies and individuals whose income has been affected by the Covid-19 situation. The line is designed to meet the working capital needs so that companies can meet their labor commitments and payment of suppliers.

• Multi-destination Working Capital: Payroll, personnel expenses, payment to suppliers, expenses, and fixed costs such as: rent, public services, among others.

• Multidestination Microcredit Working Capital: Raw material, supplies, inventories, operating expenses, operations, and payroll.

• Woman Microentrepreneur Working Capital: Acquisition of raw materials, supplies, inventories, and other operating and operating expenses that the business requires.
• Strengthening Working Capital: Acquisition of raw materials, supplies, inventories, and other operating expenses that the business requires.

The president of the Banco Agrario, Francisco José Mejía, highlighted the results that this credit line has had “at the beginning of the pandemic we had a bag of $365 billion for secured loans and at the end of 2020 we reached more than $500 billion, 70% of these loans were received by micro, small and medium enterprises”.

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3.    Current rediscount resources Bancóldex

Additionally, Banco Agrario offers the different credit lines that Bancóldex (Banco de Desarrollo Empresarial de Colombia) has implemented to help economic reactivation (24 credit lines), in different areas of the country, which are aimed at other segments of the country market such as micro, small, and medium-sized companies belonging to the different sectors that have been economically affected by the pandemic.

The credits can be used to acquire raw materials, supplies, inventories, and other operating expenses that the business requires.

4.    Digital products and services

The president of the financial institution indicated that the bank is an ally and seeks to support entrepreneurs in the Agroindustry and Food sector, through different products and services, which are adapted to the needs of entrepreneurs.
For this reason, during the pandemic, the entity made progress in the development of financial products by creating the “Movicuenta” tool, which works as an electronic wallet and allows creating an account from the cell phone.

"Through our Movicuenta tool, our clients opened 306,124 new accounts and recorded 1.79 million transactions", said the leader of the Banco Agrario, Francisco José Mejía.
The senior official added that the entity has always offered its clients low and competitive rates.