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How to apply to CORFO's PAR Impulsa program

POR Hispanic Entrepreneurs Jun 01, 2020
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Small and medium-sized companies are the most affected by the coronavirus pandemic, therefore, the Bío Bío regional government allocated resources to help them reactivate their activities. In Hispanic Entrepreneurs we explain to you How to apply to CORFO's PAR Impulsa program, one of the funds available since the last week of May.

What is CORFO's PAR Impulsa program?

It is an economic support fund promoted by the government of the Bío Bío region for the benefit of small and medium-sized companies affected by the coronavirus. The objective is to grant them financing to reactivate their economic activity or start a different one.

Those who access this program will be able to use the financing to recover their productive potential; skills development; investment, or working capital.

The health crisis has endangered the economic sector, but those who have suffered the greatest impact have been micro, small and medium-sized companies. In view of this they have taken measures to face the effects of the crisis in the country and this CORFO program joins the latest provisions.

For the Bío Bío region, two economic support funds were announced, available from May 26. The first to deliver through Sercotec for a total of 594 million pesos and the second, the PAR Boosts CORFO for which 1.500 million are destined.

These resources will be an injection of liquidity for companies, so that they can pay retroactive expenses from March 19, invest or pay fixed expenses.

What is the amount to finance?

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The financing will be up to 3 million pesos. The company can opt for 1 million more (4 million pesos in total) if it has digitization plans. That is, if the project includes adopting digital technologies that allow reducing costs, increasing sales, improving customer service, etc.

Digitization includes, for example, adopting digital purchasing and payment processes. An approach that many companies have taken since the crisis began.

The cost of implementing these technologies must be at least 30% of the project.

How to apply to CORFO's PAR Impulsa program

Applications for this program are made through the website www.fomentobiobio.cl. There those interested will find all the bases and requirements to make the request. They must create a profile or, if they already have it, enter with their username and password. Finally, they must enter all the data requested by the system.

Requirements to apply to the program

Companies with annual sales between 2.400 and 100.000 Development Units (UF) will have access to the PAR program. They also have the possibility of accessing those that have been operating for less than a year, but that their sales projections equate to what the bases establish.

Applicants must be taxpayers and have started activities before the Internal Revenue Service (SSI) in activities with the first category tax. In addition, it must be valid by the date the call started.

What can the resources be used for?

In addition to knowing how to apply to CORFO's PAR Impulsa program, entrepreneurs need to know how they can use the financing they receive.

These resources can be used to pay expenses such as leases or basic services such as electricity and water. Likewise, companies or individual entrepreneurs who receive it can dispose of these to pay salaries, buy merchandise, raw materials, materials, invest in fixed capital, etc.

Part of the resources can also be dedicated to the implementation of digitization tools, as we mentioned before. As well as in promotional strategies for the company.

How long can you apply?

Unlike Sercotec's Reactívate program, which closed applications on June 1, PAR Impulsa will receive applications until July 31, 2020 or until all resources are released.

So if you want to apply the best thing is to do it as soon as possible, without trusting the date because the resources to deliver could be exhausted sooner.

On the Fomento Bío Bío website you will find all the bases and the list of requirements to apply. You will need to fill out the application form and have the tax file with you.

You already know how to apply to CORFO's PAR Impulsa program and all the basic information about this support fund. This is an alternative to boost your company again and face the crisis we are going through at the moment.