SanJuan.-By delivering RD 85 million pesos in credit to 400 microentrepreneurs and entrepreneurs in San Juan, through the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme), President Luis Abinadera announced the expansion of the “Tu Firma estu Garantía” program to facilitate access to financing for more women and men who promote their businesses, strengthen MSMEs, generate jobs and boost the economy of the province.

During the activity, held at the Monseñor Reynaldo Connors Convention and Evangelization Center, on the occasion of the first anniversary of the “Your Signature is your Guarantee” program, President Abinader explained that this initiative was born in San Juan de la Maguana, after listening to women entrepreneurs who face difficulties in accessing Promipyme credits because they do not have a guarantor or co-debtor. He pointed out that some were forced to resort to informal loans with very high interest rates, a situation that motivated the creation of the program.

The president highlighted that the program represents a tool for economic development and social justice, by making it easier for micro and small entrepreneurs to obtain financing to grow their businesses. He stated that “Your Signature is your Guarantee” will continue to strengthen in San Juan and that the Government will continue to increase Promipyme's credit portfolio to reach more women and entrepreneurialmen.

The governor also highlighted the growth in financing allocated to the agricultural sector and assured that he will continue working to expand credit opportunities for MSMEs. He considered that supporting entrepreneurs allows them to strengthen businesses, generate jobs and create better conditions for the development of communities and the country.

Gómez Mazara: “President Abinader will go down in history for his support of MSMEs”

At the event, the director of Promipyme, Fabrizio Gómez Mazara, highlighted that “Your Firm is Your Guarantee”, launched a year ago in San Juan, seeks to eliminate one of the main barriers that microentrepreneurs face in accessing financing: the lack of a guarantor or debtor.

The director of Promipyme stated that President Abinader will go down in history as the president who has provided the most support to micro, small and medium-sized businesses throughout the national territory, by highlighting the financing, capitalization and elimination of obstacles policies that have favored the growth of the sector.

He also reported that the program has allocated RD 979.3 million, equivalent to 8.2% of Promipyme's credit portfolio, to contribute to expanding access to formal credit and reducing dependence on informal financing.

Gómez Mazara highlighted that 62% of the credits delivered during the day correspond to businesses led by women, which reflects the participation of female entrepreneurs in productive activity and access to financial tools to boost their businesses.

The director of Promipyme also highlighted the Government's support for micro, small and medium-sized companies and pointed out that the transfer of RD 1,500 million made to the institution allowed it to increase its credit portfolio by 39.3%, reaching RD 11,991.7 million.

The event allowed entrepreneurs and small business owners to learn about the financing alternatives available, receive guidance on the mechanisms to access credit and explore options to invest, expand their operations and strengthen their productive capacity.

Thank President Abinader for bringing more well-being to the families of San Juan

In her welcoming words, Governor Ana María Castillo thanked President Luis Abinader and Promipyme for supporting the entrepreneurs of San Juan and highlighted that credits represent an opportunity to strengthen businesses, generate jobs and improve the well-being of families.

On behalf of the beneficiaries, entrepreneur Wanda Ramíreza thanked Promipyme for its support, which allowed her to strengthen her Nelly Snap Service business through credits, guidance and training and highlighted that these resources represent an opportunity to grow, generate jobs and contribute to the development of San Juan.

The blessing of the act was carried out by Father Ramón Emilio Rosario, parish priest of Cristo Rey Church and also a beneficiary of the program, who valued Promipyme's support for men and women who seek to convert their ideas into productive projects and contribute to the progress of their communities.