Both initiatives are designed to foster economic development, improve competitiveness and promote innovation throughout the province.
The Government of Mendoza, through the Ministry of Production and the Directorate of Entrepreneurs and Cooperatives, launched two new editions of its support programs for entrepreneurs and SMEs: Mendoza Emprende Semilla 4 and Mendoza Escala.
Andrea Nallim, director of Entrepreneurs and Cooperatives, commented: “We are launching Mendoza Emprende Semilla 4 to allocate funds to new ideas and the growth of existing ventures that Mendoza residents can propose. With Escala, we seek to provide SMEs with the necessary financial tools to improve their productivity and competitiveness, promoting the sustainable growth of the provincial economy.”
Mendoza Starts Seed 4
The program focuses on supporting early-stage ventures with financial assistance of up to $2,000,000 per person per project. This program is aimed at people over 18 years of age with a business in operation and no less than one year and no more than seven years of experience, counted from the date of submission of the application. Entrepreneurs must have the corresponding tax registrations and a bank account to receive the funds.
Financing characteristics:
Amount: Up to $2,000,000 per project.
Destination: New fixed assets for industrial, commercial, logistics activities and related services.
Return period: Up to 24 months.
Interest rate: 50% of the annual nominal active rate of the Banco de la Nación.
Additional requirements: A guarantor with a salary bonus that covers the loan fee.
For more information and applications, interested parties can write to [email protected].
Mendoza Scale
Mendoza Escala is a new line of financial aid that will support projects of up to $10,000,000 for companies based in Mendoza between 7 and 14 years old. This program seeks to improve the productive and competitive capacity of SMEs through investments in new used goods and development of software.
Financing characteristics:
Maximum amount: Up to $10,000,000 per project.
Destination: New fixed assets and development/acquisition of software.
Repayment period: 36 months, without grace period.
Interest rate: 50% of the active variable rate of Banco Nación Argentina with a cap of 40%.
Guarantees: Pledges, bonds from mutual guarantee companies (SGR) and fiduciaries.
Composition of the financing: 80% through Mendoza Fiduciaria to be returned in 36 months at a subsidized rate and 20% in non-refundable contributions (ANR).
For more details and applications, interested parties can visit the Mendoza Government website or write to [email protected].
