| Jalisco to Support Small Businesses The News | |
| go to original October 19, 2013 |
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The Jalisco Business Support Fund (Fojal) has 60 million pesos ($4.7 million) available to loan to the state’s micro, small and medium-sized businesses, Economic Development Secretary José Palacios Jiménez said this week.
According to Palacios Jiménez, half of this money was provided by the National Entrepreneurship Institute (Inadem) and the Rural Sector Capitalization and Investment Fund (Focir), while the other half was provided by the Fojal itself.
Each business, Palacios Jiménez said, can apply for a loan of anywhere between 150,000 to 3 million pesos, with a payment period of three years. He added that the loans will have an ordinary interest rate of 12 percent, though business owners who make their payments on time will be granted a 50 percent discount — that is, they will pay an interest rate of 6 percent.
Business owners will have until Nov. 29 to apply for these loans.
See the original at The News.
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