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Claims have also been raised regarding conditions and rejections of the loan. Both situations are very marked in the gastronomic field.
Although the Covid-19 line of credits only started operating last week, SMEs, the main recipients of these loans, do not have a very positive balance on the performance of banks.
One of the characteristics of these loans – granted through Fogape – is to finance these types of companies for amounts equivalent to three months of their sales. However, several SMEs have been surprised to receive proposals from banks with figures that amount to much less than that.
“We have seen cases where banks have granted half a month of sales and not the three that were previously thought. So, we are facing a problem of poor communication of this benefit and commercial banking discretion, which often does not understand that this loan means the life or bankruptcy of a micro, small and medium-sized company, “says the president of the Multigremial of Entrepreneurs, Juan Pablo Swett.
Claims have also been raised regarding conditions and rejections of the loan. Both situations are very marked in the gastronomic field.
In this regard, the general manager of the Association of Banks and Financial Institutions (ABIF), Luis Opazo, said on Friday that, “as established by the regulatory framework, the approval of operations is framed in the internal policies of each institution, thus as in the requirements that Fogape guarantees impose in terms of late payment, use of funds, among others, “he said.
“Thus, this process may imply that in some cases the credit offered is less than the maximum limit of three months of sales, a situation where considerations associated with the solvency of the companies would concur simultaneously, as well as those associated with the preservation of a healthy level of indebtedness, “added the executive.
Official Source meets requirements,
but did not have access to financing
“We inform you that although you meet the conditions required by the government, the granting of this financing is subject to the evaluation of each bank, which in the first instance was not pre-approved for the company Gastronomía Purreva Ltda.”
That is the response email received by Cristián Pulido, owner of the La Fuente Oficial restaurant, from Banco Santander to reject his request for a Covid-19 credit.
His gastronomic company has two branches just steps from the civic center of Santiago, it has 25 workers and his business was already hit hard by the social outbreak.
“The two restaurants are very close to La Moneda and the perimeter closure due to what happened in the social outbreak affected me too much,” he says.
Between both locations, La Fuente Oficial adds sales between $ 50 million and $ 60 million per month.
Ten years ago, he was a client of the Banco Santander business segment, an entity that rejected his loan.
“Likewise, we are insisting that this financing can be reviewed and analyzed again,” they told him from the bank.
However, Pulido points out that his accounts are up to date and that he sees no reason not to access financing if he meets the requirements.
“I do not have tax debts, nor do I have deferred VAT payment. I am up to date with my credit accounts, I have demonstrable sales of $ 60 million. The company is ten years old. I meet all the conditions,” he explains.
His bank told him that in 72 hours he will have a definitive answer, which are sold out this week.
When analyzing his case, he says that before the approval of the Fogape law, he went to his bank, requesting a loan on March 14, with a negative response on April 3.
“Before October 18, an executive called me to offer me a loan for $ 100 million. I did not need the silver so I did not take it, in March I went to the bank to ask for a loan through Fogape, before the new law, and they said no, “he says.
Member of Bar La Virgen:
“There was no commercial reason for us not to be approved for more resources”
Juan Alberto Schiavoni, one of the three partners of the Bar La Virgen, which has six years of history, branches in La Dehesa, Barrio Yungay and Pichilemu, has received less than the requested amounts on the Covid-19 line. , in addition to having 30 workers.
It indicates that Banco de Chile asked him 15 days ago for access to his tax portfolio in order to start the credit delivery process with Fogape guarantees.
“Through the bank’s website we got a pre-approved Covid-19 line that corresponds to approximately a quarter of our average monthly sales,” says the businessman. “They gave us the quarter of a month, instead of the average three months,” he emphasizes.
Schiavoni comments that the only explanation he received from his executive was that the gastronomic sector was very risky for the bank.
“It seems to us that the objective proposed by the sectoral ministers is not being met. They are putting in place a series of requirements that go beyond the approved law. That seems to us a little unfair and uncomfortable. It bothers the executive to tell you that our heading It is very risky since, according to the law, what has to be financed is the most risky items to protect employment, considering that there are state guarantees involved, “he points out.
Schiavoni says that its partners have had an account with Banco de Chile for ten years and the company has had a year and a half for the same financial institution.
“We have never had any credit, we have never been late. There was no commercial reason for us not to be approved for more resources. We had no previous credits, we had our line and card,” he says.
Finally, the members of the bar ruled out using the Covid-19 line and went into personal debt.
Consulted Banco de Chile, replied that “the Covid loan grants a maximum of three months of sales, therefore the final amount depends on the effective needs of the client and the risk associated with the requesting company, which is determined by the respective bank according to its risk policy. Both requirements are required by the Fogape regulation “.
Osorno entrepreneur received only 20% of his monthly sales
Not only in Santiago have there been difficulties with the Covid-19 line. In Osorno, Los Lagos Region, the food services businessman, Cristóbal Ellwanger, has two companies and for both they offered him less resources than he had requested from Banco Santander.
He indicates that although the process was quick since on Monday May 4 he had offers for his two companies, in his company “Inversiones Zero SPA”, through which he manages a food services company, he received $ 50 million in total , but its three-month sales accumulate up to $ 120 million, that is, it has an average income of $ 40 million every 30 days.
In his other company called “Arbórea SPA”, through which he is a franchisee of the Mechada Nacional chain, he applied to Santander for a Covid-19 loan and was offered $ 6.5 million. However, his monthly sales, Ellwanger says, are $ 30 million.
“They did not give me any reason, the executives are not aware of the situation because it is done through the bank’s digital platform. I appealed for the restaurant’s credit. In the other I raised the request, but that is the amount destined to them, “he explains.
“With the restaurant I was surprised how low (the amount offered), because it is a company that is starting, that was going super well and I have no debt. That they give you 20% of sales has no explanation,” he says.
Now, his option is to wait for the proposal from BancoEstado, the other entity where he requested a Covid-19 line for his restaurant. “$ 6 million for a restaurant today allows you to be two months more alive and nothing else,” he says.
“At this time, banks should get on with SMEs and grant loans for the amounts required. If there is no consumer round, they will also be hit. So far they have assumed certain risk policies very similar to those of a conventional loan. In my case, I sell less than UF 25,000 and state guarantees cover 85%. I don’t know if they are more flexible than on other occasions, “he indicates.
The rejection of a small hairdressing salon in Punta Arenas
Eduardo Cuello is an entrepreneur from the city of Punta Arenas. Her hairdresser “Monica and Eduardo” employs three people and bills $ 1.5 million a month.
Like other people, the effects of the crisis were felt in his business and he had to request the Covid-19 line from his bank, Scotiabank. However, the financial entity rejected the request.
“They didn’t give me any reason. I don’t even appear in Dicom because I have everything up to date. It may be that the time I have been in the bank is very little, because I have been a year”
From the bank, they answered that he did not meet the conditions to apply for the loan through Fogape.
“According to the bank’s background check, your company does not meet the conditions required to access the Covid-19 line of credit. We invite you to contact your Banca Empresas executive to find other alternatives that better meet your needs. of your company “, says the email sent by Scotiabank.
“I have been a customer of the bank since last year and have deposited part of the hairdresser’s account there. The first current account I opened was there,” he says.
“They tell me to go see my executive to see other types of facilities. I spoke to him on WhatsApp and he told me to go on Monday,” he says.
“I think they didn’t give me the Covid-19 line because I’ve only been in business a very short time. I don’t know what other reason that could be,” he says.
Eduardo Cuello is part of a group of businessmen and entrepreneurs from Punta Arenas who met to evaluate the operation of the Covid-19 loan.
The president of the organization Fuerza PYME in Punta Arenas, Ramón Vargas, points out that many expectations were generated with the law that capitalized Fogape.
“A law came out very quickly (from the Fogape) and we had a lot of hope in it. So, what one hopes is that this thing is an instrument of promotion, but if the bank does not change its course, we will have problems and find a way to access resources, “he says.
“Apparently, the situation is not working as it should. It seems that President Piñera’s good intentions are not being considered by the banks. That is the problem,” he adds.
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