It will grant an interest rate subsidy to loans destined to finance working capital for mining extraction, such as payroll, capacity building or acquisition of raw materials.
A new Special Line of Credit with Subsidized Rate LEC Minera authorized the national government for holders or beneficiaries of small-scale mining titles, who request financing for the development of activities aimed at improving the productivity of this sector.
This support to small miners is done with the support of the Fund for the Financing of the Agricultural Sector Finagro.
“The Special Line of Credit with Subsidized Rate LEC Minera is part of the financial inclusion strategy of the mining sector,” explained in the national government.
The strategy is called ‘Generating Confidence in the Mining Sector’, and it is led by the Ministry of Mines and Energy.
“This line will grant a subsidy to the interest rate to credits destined to finance the working capital for mining extraction, (payroll, capacity building, acquisition of raw materials, etc.) and the acquisition of infrastructure, machinery and equipment for mining ”, they specified in the Ministry of Mines and Energy.
The characteristics of the subsidy
A subsidy of 3 percentage points effective per year will be granted at the rate established by the bank granting the loan.
For small producers, the final interest rate with subsidy from the Ministry will be up to IBR + 3.9%.
For medium and large producers, the final interest rate with a subsidy from the Ministry will be up to IBR + 6.7%.
The maximum amount of the subsidy in pesos will be 16 million per producer.
Regardless of the term of the loan, the subsidy will be granted for a maximum of 4 years.
The maximum amount of the loans will be 174 million pesos.
Beneficiaries will have the possibility of accessing a grace period of maximum 1 year.
Producers must request their credit at any of the offices of financial intermediaries legally established in Colombia, which are authorized to carry out rediscount operations before Finagro until December 14, 2022, or until resources are exhausted.
Those interested in knowing or accessing the financing opportunity with the Special Credit Line – LEC Minera, can enter the following link https://acortar.link/rHd15 where Finagro will support, advise and clarify doubts regarding the process of the credit application before the bank.
