The Microenterprise Council of Jujuy is seeing strong demand for credit, with amounts reaching up to 50 million pesos and flexible access conditions, according to statements made by the organization’s manager, MartÃn Bouhid, on April 10. The credits are primarily aimed at supporting self-employment as residents seek ways to generate income amid a challenging economic environment.
This initiative matters because it provides an alternative for individuals looking to start or sustain small businesses during a period marked by declining consumption and increased financial need. Bouhid said most financing requests come from small-scale projects—often family-run—that help supplement household income or provide new job opportunities.
Bouhid explained that more than 25 loans totaling about 1 billion pesos were granted in the first three months of the year, with another 35 to 40 projects currently under evaluation. “We are in a complicated moment where people are trying to start their own business just to make ends meet,” he said. He added that the demand for information and consultation is very high, and the organization is working hard to respond despite difficult circumstances.
The available credit lines cover various sectors such as retail stores, food outlets like rotisseries and kiosks set up in garages, as well as service ventures. However, Bouhid noted that most applicants are pursuing low-scale initiatives focused on self-employment: “What we see most often are drugstores, takeaway chicken shops, kiosks in garages. These are tools for self-employment,” he said.
Loan terms include repayment periods of five years and interest rates ranging from 17% for loans up to $20 million pesos and 28% for larger amounts. There is also a simplified line for smaller sums intended to speed up access. Bouhid highlighted flexibility regarding requirements: “There is no minimum category or seniority needed—you could have registered yesterday and we can still give you the loan.” The main focus remains on project viability rather than applicant history.
Applicants must be tax-registered, submit an investment project proposal, pass technical and credit evaluations, and provide guarantees—which may include salary receipts or pledged assets—or obtain backing from Fogajuy (a reciprocal guarantee fund). Details about these requirements are available online; only one form of guarantee is generally needed unless its value falls short.
Bouhid acknowledged challenges remain with application forms but said recent changes have reduced paperwork significantly—from thirty-five pages down to eight—though many still struggle with projecting costs or revenues accurately. Starting in May, there will be further digitalization so applicants can create user accounts online and submit initial proposals before preparing full documentation: “We want communication flows to be smooth so people avoid unnecessary trips,” he concluded.
