BancoEstado announced on Apr. 15 a new financial offer aimed at supporting the cargo and passenger transport sector in response to rising international fuel prices. The initiative was discussed during a meeting between Karlfranz Koehler, Undersecretary of Economy, and Mario Farren, president of BancoEstado.
The measure seeks to address economic challenges faced by transport operators due to increased fuel costs. Authorities said the program is designed to provide more flexible financial support for this key sector.
The special working capital loan will be available for segments including freight transport and rural, interurban, and private buses. The loan features a monthly interest rate of 0.85 percent, repayment terms up to 24 months with the first payment due in up to six months, Fogape guarantees, and applies to amounts above three million pesos. Applications can be made at any BancoEstado branch nationwide over a period of sixty days starting Friday, April 17.
Mario Farren said: “Sabemos que el alza de los combustibles requiere inyectar liquidez con un sentido de urgencia. Ya tenemos operativas las reestructuraciones de deuda con hasta seis meses de gracia, pero entendemos que el capital de trabajo es hoy la gran necesidad para seguir operando.” He added: “Desde este viernes estará disponible esta nueva oferta de capital de trabajo, con garantía Fogape y con una tasa rebajada a 0,85%, que podrá ser solicitada en todas las sucursales BancoEstado a lo largo del país.”
Karlfranz Koehler also commented on the announcement: “Estamos muy contentos por haber logrado con BancoEstado este apoyo para los transportistas de carga. Como Gobierno, hemos empatizado con su preocupación y con lo manifestado por sus gremios, por lo que les estamos dando ahora una herramienta de liquidez y capital de trabajo para sus operaciones, que son tan importantes para el país.”
According to BancoEstado officials, this offer is part of an ongoing campaign called “Chile no se detiene, nuestro banco tampoco,” which began on April 1 with the goal of providing urgent support where it is most needed.
