Launching two new products for the benefit of enterprises
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Economic take-off: launching two new products for the benefit of businesses
The Ministry of Economy, Finance and Administration Reform announced that the Economic Vigilance Committee, which held a meeting today, Thursday, through the visual debate technology, launched two new guarantee products for the benefit of contracting, in order to achieve economic take-off.
A statement to the ministry stated that the first product, “very small contracting take off” is represented by the state guaranteeing 95 percent of the loans to take off economic activity granted to very small businesses, traders and craftsmen whose transaction volume is less than 10 million dirhams, adding that these loans can represent 10 percent of the number of transactions. annual.
The communication highlighted that the second product, “Take Off Guarantee” is a guarantee mechanism by the state, ranging between 80 percent and 90 percent, depending on the size of the enterprise. This guarantee covers loans granted to resume contracting activity whose turnover exceeds 10 million dirhams. These loans can reach up to a month and a half from the number of industrial contracting transactions and a month from the number of other contracting transactions.
In order to help reduce the deadlines for performance, the ministry adds, 50 percent of the loan must be employed to settle the situation towards suppliers, explaining that this product also covers major contracts whose turnover exceeds 500 million dirhams.
During this meeting, the Economic Vigilance Committee adopted, after studying, a guarantee mechanism by the state to finance the post-crisis take-off stage. It concerns all types of contracting, public and private, which have been negatively affected by the epidemic. This mechanism will enable the financing of business requirements with the application of a maximum interest rate of 4 percent, which represents the main rate of Bank Al-Maghrib + 200 basis points.
The same source recorded that these loans can be repaid over a period of seven years with a grace period of two years, pointing out that these guarantee mechanisms aim to mobilize the necessary financing to enhance economic dynamism during the second half of 2020, which will have a positive impact on employment and performance deadlines, as well as To restore trust between economic partners.
In addition, in order to relieve pressure on the treasury of small and very small enterprises during this stage of economic recovery, the Ministry confirmed that it was decided to accelerate the settlement of debts of these companies with some public institutions affected by this epidemic.
Within the framework of this new mechanism, the public corporation or the public enterprise compiles a detailed list of the creditor enterprises whose status must be settled, and gives the state a guarantee that entitles the public corporation to obtain a loan allocated exclusively to settling its position vis-à-vis these enterprises, and the banks grant the loan and undertake the performance of the enterprises directly concerned on the basis of the data made available to the public institution.
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