Economic boost in San Juan: Abinader delivers RD$85 million to entrepreneurs through Promipyme
President Luis Abinader reaffirmed his commitment to the productive development of the San Juan province by delivering RD$85 million in loans to 400 local micro-entrepreneurs and entrepreneurs. This initiative, executed through the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme), seeks to strengthen the business fabric of the area and foster job creation.
During the event, held at the Monseñor Reynaldo Connors Convention and Evangelization Center, the president formally announced the expansion of the “Your Signature is Your Guarantee” program, which is celebrating its first year of operation. This strategy has been fundamental in democratizing access to working capital in the region.
A program designed to overcome financial barriers
The “Your Signature is Your Guarantee” program was born in San Juan de la Maguana after listening to female entrepreneurs who could not access Promipyme loans due to the lack of a guarantor or co-signer.
Luis Abinader, President of the Republic
The head of State explained that the initiative arose as a direct response to a felt need: many entrepreneurs, especially women, were forced to resort to the informal sector with high interest rates due to the lack of traditional collateral. By eliminating this requirement, the Government not only facilitates access to funds, but also promotes greater social justice and economic stability for San Juan families.
Results and scope of Promipyme
For his part, Fabrizio Gómez Mazara, director of Promipyme, highlighted the positive impact of these public policies. Among the most relevant data from the administration are:
- Historical placement of RD$979.3 million through the “Your Signature is Your Guarantee” program.
- 62% of the financing provided during this period was allocated to businesses led by women.
- A 39.3% increase in Promipyme’s total credit portfolio, reaching RD$11,991.7 million thanks to state support.
Gómez Mazara emphasized that the central objective is to drastically reduce dependence on informal financing, offering small entrepreneurs fair conditions that allow them to scale their operations and consolidate their projects in the formal market.
Local training and growth
In addition to the capital injection, the beneficiaries participated in orientation sessions on financial management and investment strategies. The event also featured the participation of the Governor of San Juan, Ana María Castillo, and entrepreneur Wanda Ramírez, owner of Nelly Snap Service, who expressed their gratitude for the government support as a key driver for the province’s progress.
With these actions, the Dominican Government continues to prioritize the strengthening of MSMEs as fundamental pillars for national economic growth, ensuring that entrepreneurs have the necessary tools to transform their ideas into sustainable businesses.
