The modifications seek to increase the beneficiaries of aid from the Business Support Fund for the Textile and Clothing Sector.
Through Law 31683, Emergency Decree 012-2022 was modified, which creates the Business Support Fund for the Textile and Clothing Sector to implement variations. In this way, the eligibility criteria for the beneficiaries of FAE-Texco and the Crecer fund have been changed. Likewise, article 8 of Emergency Decree 012-2022 has been repealed.
In detail, the regulation states that the beneficiaries of the FAE-TEXCO, which are the Mypes that develop textile and clothing manufacturing activities, will also be the ones that “obtain revolving and/or non-revolving financing for working capital; acquisition of fixed assets, such as machinery and equipment; and/or financial consolidation and purchase of debt”. This will be applied according to the parameters established by the Superintendency of Banking, Insurance and AFP (SBS) for loans to micro, small and medium-sized companies whose annual sales for the last year are up to 2,300 UIT.
FAE-Texco: Produce would include a good payer bonus to reduce credit interest rates
On the other hand, numeral 1 of article 4 of Legislative Decree 1399 has been modified. Thus, micro, small and medium-sized companies, according to the type of credit established by the SBSwill also be beneficiaries of all the instruments of the Crecer fund.
Finally, the repeal of article 8 of Emergency Decree 012-2022, “Urgency Decree that creates the Business Support Fund for the Textile and Clothing Sector” is established.
Source: Larepublica
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