Amends Decree-Law No. 3,472, 1980 On Guarantee For Small Entrepreneurs Fund

Original Language Title: MODIFICA DECRETO LEY Nº 3.472, DE 1980, SOBRE FONDO DE GARANTIA PARA PEQUEÑOS EMPRESARIOS

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"(Artículo único.-Introdúcense las siguientes modificaciones en el decreto ley Nº 3.472, de 1980: 1.-Modifíca_se su artículo 3º de la manera siguiente: a) replace in your paragraph first the phrase"whose fixed assets not exceeding 5,000 units of development."with the following:" whose annual net sales does not exceed 25,000 units of development, in the case of small non-agricultural producers; " Neither of 14,000 units of development, in the case of small agricultural producers. "."

(b) repeal its second and third subparagraphs.

(c) add the following new second subsection: "may also apply to the Fund guarantee legal entities without profit, societies of people and organizations referred to in article 2 of law No. 18,450 to finance projects of irrigation, drainage, productive infrastructure or equipment provided that at least two-thirds of the natural persons that integrate them to comply with the requirements set out in the preceding paragraph.".

(d) be replaced in its fourth paragraph the expression "fixed assets" by the following: "annual sales amounts".

2.-Introducense the following modifications in its article 4: to) replace in its first subparagraph, the figure "1,500" by the following: "3,000"; and replace the sentence that begins with the words "whose fixed assets" and ending on the dot (.) end of the subsection, by the following new sentence preceded by a dot (.) followed: "the Superintendency of banks and financial institutions may, by means of a rule in General, raising the maximum amount of the loans referred to in this subsection, subject to conditions laid down , that in no case may exceed 5,000 units of building. "."

(b) replace, in its second paragraph, the figure "1500" with the following: "3,000", on the two occasions appears in this subsection.

(c) Insert the following paragraph third, new, becoming current paragraphs third, fourth and fifth subparagraphs fourth, fifth and sixth, respectively: "in the case of legal persons and organizations referred to in the second paragraph of the preceding article, loans that will ensure the Fund may not exceed, in total, 24,000 units of promotion for each legal entity or organization." The Fund cannot guarantee more than 80% of the balance of each loan. "."

3 be inserted in article 5 the following subsection fourth, again, passing the current fourth, fifth and sixth subparagraphs to be subsections fifth, sixth and seventh, respectively.

"The administrator of the facility shall specify, on the basis of each tender, which sector or sectors economic and under what conditions may make use of the resources committed. In any case, bases will be established that tenderers may not allocate more than 50% of the amount awarded to a single economic sector, legal entities and organizations referred to in the second paragraph of the article 3, nor to loans whose amount fluctuates between 3,000 and 5,000 units of building. "."

4 Replace in its article 6 the expression "biweekly"by "monthly".".