The procedure to access the 1% credits is free and the application, together with the supporting documents, can only be delivered in person at Banecuador.
On December 10, 2021, through Executive Decree 284, the president, William Lasso, established the concession credits at 1% interest and up to 30 years term as “national priority”.
The first official deliveries of this type of financing began on January 5, 2022. Lasso assured that the application process is as unbureaucratic as possible and it focuses, in addition to small agricultural producers, entrepreneurs (especially women heads of household), informal workers and even people with unpaid debts due to the crisis.
Below we detail the main keys to access the credits between $500 and $5,000
1.- To make the request you do not need to be a client Banecuador, that is, it is not a requirement to have previous accounts or credits in that institution.
2.- The three identification documents that are requested are: identity card, voting certificate and a basic service form (up to 3 months old).
3.-You must fill out a request card and attach the documents that support the income you receive from your economic activity. These can be account statements, invoices, bills of sale, RISE, RUC, commercial references, among others.
4.- In case of attaching heritage backups, they can be included copy of registration, property taxes, deeds, among others. This is not required.
5.- To accept the request will not be taken into account credit history, that is, previous debts that are delinquent or past due.
6.- The credit does not have grace periods, or non-payment, before the beginning of the monthly installments that must be made. For example, Dalia Cortéz Nazareno, the first Ecuadorian to access the credit for $3,000, you’ll have to pay 324 monthly installments of $15.40, or just over $0.5 a day.
7.- The presentation of the request, together with the supporting documents, can only be done in person, through all the offices of Banecuador in the country.
8.-On the official page of Banecuador, you can download and fill out an online registration form with basic data for the prequalification process.
9.- All procedures are free and does not require intermediaries. In no case are personal data requested by telephone, nor is the prequalification reported to the credit via text messages.
10.- The cost of liability insurance for the credit assumes it BanEcuador. This applies in cases where the applicant is not older than 65 years. (JS)
FACT: In a first stage, the Government plans to deliver a total of $100 million to benefit around 40,000 people.
