Valle Responde is the line of credit with which the government of Valle del Cauca and Bancoldex seek to combat the negative economic effects that were generated by Covid-19 for entrepreneurs, microentrepreneurs and small and medium-sized enterprises (SMEs) in the Valley.
The resources available for this credit line are COP $ 65,100 million, of which 30% is destined for businessmen and entrepreneurs in Cali, and the remaining 70%, to the other municipalities of the department. Likewise, 37% of all the resources available for the Valle Responde line are destined to micro-entrepreneurs, 34% to SMEs and 29% to microfinance. This seeks to maintain and positively impact more than 1,400 economic units in all productive and cultural sectors, which generate 20,748 direct and indirect jobs.
Among the characteristics that make this line of credit favorable for entrepreneurs and SMEs in Valle del Cauca, aspects such as; (i) a grace period of up to six months in the payment of the credit granted; (ii) terms of two to three years for the payment of the loan; (iii) interest rates of up to five percent below market rates and (iv) maximum amounts that will go up to COP $ 100,000,000 for microentrepreneurs and COP $ 500,000,000 for SMEs. It is important to remember that because Bancóldex is a second-tier bank, businessmen and entrepreneurs who wish to access the Valle Responde credit line must first contact their microcredit financial institution or first-tier bank, and make the request for access. before this entity.
With the Valle Responde credit line, Valle del Cauca joins the group of now nine regions of the country that seek to reactivate the economy and help entrepreneurs and SMEs in their regions through this type of economic aid.