Banco Santander has announced the launch of “Santander Fogape Impulsa,” a new working capital credit line backed by the Fogape guarantee, designed to provide Chilean SMEs with faster access to financing.
The initiative targets small and medium-sized businesses with annual sales of up to UF 100,000. The product aims to provide immediate resources to sustain and scale commercial operations within the local market.
The financing is focused on businesses needing to cover urgent operational needs. Key uses include paying suppliers, meeting payroll obligations, and covering rent or other operating expenses.
Key Features of the Financing
The application process is 100% digital, featuring an accelerated approval system via the bank's website. The credit line offers preferential rates and includes a grace period of up to three months on installments, providing much-needed relief for cash flow.
Available amounts per company can reach up to UF 15,000, depending on the business's reported sales. Once approved, funds are disbursed immediately in Chilean pesos through equal installments.
Marco Cauduro, Retail Customers Manager at Santander Chile, stated that the bank's goal is to support the development of this sector. “At Santander, our driving force is supporting SMEs at every moment and every stage of their growth,” the executive said.
Cauduro added that the tool aims to help businesses maintain operational continuity through an agile, digital process. “With the launch of ‘Santander Fogape Impulsa,’ we are providing Fogape-backed financing with preferential terms,” he explained.