MICM and Banco Promerica sign agreement giving women-led SMEs access to preferential financial services

• They will join forces to make it easier to obtain the Women’s MSME Business Classification Certification and will provide access to workshops on economic outlook and other topics of interest for growing their businesses.

Santo Domingo, January 2023.- With the aim of promoting public-private initiatives that help women who run micro, small and medium-sized enterprises, the Ministry of Industry, Commerce and MSMEs (MICM) and Banco Promerica have signed a collaboration agreement that will facilitate access to preferential financial services, stimulating economic dynamism and the empowerment and development of businesswomen.

The agreement, signed by Víctor “Ito” Bisonó, Minister of Industry, Commerce and MSMEs (MICM), and Carlos Julio Camilo, president of Banco Promerica, provides that those who have obtained the “Women’s MSME Business Classification Certification” will receive distinctive benefits from Banco Promerica through a broad catalogue of products and services tailored to this segment, which is so important to the national economy.

Bisonó said it is government policy to believe in and support the aspirations of Dominican women who, through their effort and hard work at the head of MSMEs, are committed to continuing to grow and contribute to the country’s economic development.

“By sealing this agreement with an institution that develops products and services designed with our people and communities in mind, we open up a new range of opportunities for women, a fundamental pillar of society and the family, for whom we work and design public policies with a positive social and economic impact,” said the minister.

Camilo, president of Banco Promerica, said that with this alliance they reaffirm their commitment to keep contributing to the communities in which they operate.

“With our commitment to driving transformation, and aware of the challenges and barriers women face, at Promerica we promote banking that builds relationships and offers products and services to our communities to help them overcome their limits, whether cultural, economic, personal or geographical. Through this agreement we are presenting a value proposition to support women entrepreneurs in growing their businesses” in a close, innovative and agile way, explained Camilo.

Beneficiaries will receive commercial loans and currency exchange at preferential rates, and will have specialised, personalised assistance and advice from executives at Promerica’s specialised SME banking unit. They will also have free access to webinars and workshops on economic outlook and other topics of interest for growing their business.

They will also be able to receive payments through more than 600 payment agents affiliated with Banco Promerica across the country. In addition, they will receive distinctive benefits during the first year with the Promerica Visa Business Platinum Credit Card and free emergency assistance during the first month. As for credit lines, the bank will offer Business CrediPlus, for simple drawdowns via Digital Banking at a preferential rate.

Both institutions will also join forces to make it easier to obtain the Women’s MSME business classification certification, which is free of charge; registration is available at ventanillavirtual.micm.gob.do.

For this certification, women must hold more than 50% of the shares or share capital, and must also have Minutes of the Shareholders’ Meeting (not applicable to individuals and IRLs), a list of Board members, and a valid Commercial Register certificate, be up to date with payroll payments for employees registered with the TSS (IR-17 for contracted or temporary staff) and be up to date with their tax obligations, both as individuals and as legal entities (IR-1/IR-2).

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About Banco Promerica

Headquartered in Santo Domingo, Banco Promerica is a multiple bank with 22 years of local presence, focusing on personal customers, small and medium-sized businesses, corporate and institutional clients, and the Payment Methods business. Banco Promerica is a member of Grupo Promerica (through the holding company Promerica Financial Corporation), made up of nine banks operating in Central America, Ecuador, the Cayman Islands and the Dominican Republic.

Through the financial services it offers, Grupo Promerica constantly contributes to financial inclusion and to the economic progress of the societies and communities it serves.

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