New Government Guarantee Loans for Monotributistas Aimed at Stimulating Argentine Economy

In the context of an election year, Ministry of Economy of the Nation, headed by Sergio Massa, established a series of credits that benefit various sectors of the Argentine economy. This time it is about loans for monotributistasaimed at workers within that category and who have a Government guarantee.

With the aim of promoting the development of the national economy and the employer profile, Sergio Massa declared that “the State has to provide them with incentive bridges to grow. Many of those talented people who are here and who need their equipment can buy it with guarantee of the State through these economic measures”. The credit line aims to cover more than 1,300,000 users.

The new loan for monotax is part of the objective to contain the blow that inflation and the consequent devaluation have been inflicting. The single-tax worker has credit lines at half the bank rate and with a full guarantee from the state.

There is a wide variety of financing available for the producing sectors previously launched by the government, but in this case it is aimed at monotributistas who can access a fixed-rate credit.

The credit allows beneficiaries to access a maximum amount of 4 million pesos depending on the category to which they belong, with an interest rate that has a 50% subsidy from the National State.

Collection can be made through public or private banks that are members of the program, the maximum repayment period is 2 years through a fixed monthly fee according to the category.

In this framework, it is important to have detailed advice and thus avoid making mistakes. The Best Deala recognized, leading and positioned platform in the Argentine market, is one of the best options to access valuable quality content on financial matters and thus be able to compare the different options when wanting to access this type of loans.

So, it allows each user who comes to the platform to have the possibility of accessing reliable, transparent and highly realistic information with the current context they live in Argentina.

Continuing with the topic, it is important to comment that, among other benefits for the user, the credit will not be evaluated by financial entities and due to its nature as a subsidized financial tool by nation, banks occupy a very limited part of the process. The procedure can be processed through the bank used daily by the worker.

The benefited workers are those registered for the monotax in all its categories. The money for capital investment aims to generate more employment, maintain the level of consumption and encourage the productive sector

In the same ceremony, Massa announced that people who fall into monotax categories A, B, C and D will not have to pay VAT (Value Added Tax), Social Work, retirement contributions and earnings for 6 months.

These concepts, which are within the monthly monotax fee, differ depending on the category to which each person belongs. It is intended to generate tax relief for more than 4 and a half million of the nation’s workers.

Regarding the monotax scale and the situation of the workers, the president declared that “we want them to pay less income tax on their bonuses, because that returns to consumption. Furthermore, because it alleviates the situation that we understand is generated by the fight against inflation”.