As part of its commitment to small and medium-sized companies in the context of economic reactivation, scotiabank He launched ScotiaLine for Businessa product that will contribute to potentiate the productive capacities and growth of their businesses.
ScotiaLine allows the use of funds in whole or in part up to the authorized limit for a specified period of time, in which each payment made increases the availability of funds; and generating interest only for the days of use of the disbursement.
The new product is aimed at individuals and small and medium-sized companies that, as part of their commercial activity, require a loan to finance the acquisition of inventory and/or raw material for the production of the final product, among other needs.
According to Elisa Familia, Director of Small Business, “at Scotiabank we trust SMEs and we are witness to their potential to drive economic progress, as they generate prosperity by creating better production and distribution methods.”
“Let us remember that SMEs contribute more than 38% to Internal Product Bruno (GDP) national and generate more than 67% of jobs in the Dominican Republic, becoming allies for sustainable development”, he concluded.
Scotiabank is committed to the economic reactivation of the country and has maintained sustained support for the SME segment by making available a robust portfolio of products and services, as well as advisory and support programs to help them grow their businesses and turn them into tools to improve their quality of life, of their families and communities.
An example of this is the “My Company” program, which it implements in partnership with Barna Management School and offers small companies educational training, training, risk analysis and diagnostic services to strengthen their businesses.
This initiative has benefited more than 450 SME clients and independent professionals in the last five years, in order to help them better understand their businesses and make the right decisions. Similarly, to support this segment during the pandemic, the banking entity maintained technical support programs, payment facilities and the creation of new channels to inject capital and provide solvency to the sector.
