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The Governing Council of the Local Development and Employment Agency (ADLE) has given unanimous approval to the signing of the agreement with Banco Mare Nostrum to start up the new line of microcredit shortly.

These are loans, between 1,500 and 5,000 euros, which will have a maximum repayment term of 36 months and whose interest, which is 3%, will be paid by the City.

"Not only for borrowers, who will not have to pay the interest, but also for the City Council since we have negotiated a much lower interest rate than the market," said the deputy mayor and president Of the ADLE, Ana Belén Castejón.

In addition, these loans will have no opening commission, no study fees, no partial or full amortization fee.

"Our goal is to expand the line of microcredit because it is a very useful financial tool to help entrepreneurs start or consolidate their businesses. We have tried to make it a competitive, agile process that reaches as many Users, "said Castejón.

The objective is for the interested parties to submit their applications in the ADLE, which would act as a first filter, before the requests reach the BMN.

All loans will be processed in the office that Banco Mare Nostrum has in San Francisco square, as it is its central office and in this way the processing will be more agile.

With this agreement, the ADLE does not assume interests of delay, overdrafts or additional expenses for breach of the borrower.

The new line of microcredit will be complementary to the one already offered by the ADLE, in which the amount of the loans is higher, but also have to pay interest, although lower than the market.

The ADLE is already working on the design of an outreach campaign to be presented shortly.

In addition, information sessions will be held at COEC, Chamber of Commerce, at the Muejres Nursery and will take the next Local Trade Council.

"The aim is to inform all potential candidates so that they can benefit from these loans," explained Castejón.

Source: Ayuntamiento de Cartagena