Abinader Delivers RD$85 Million in Loans to San Juan Entrepreneurs

President Luis Abinader delivered RD$85 million in loans to 400 microentrepreneurs and entrepreneurs in San Juan, strengthening a government financing initiative aimed at businesses that have struggled to obtain credit because they lack guarantors or co-signers.

The financing was provided through the National Council for the Promotion and Support of Micro, Small and Medium Enterprises, known as Promipyme, during an event at the Monsignor Reynaldo Connors Convention and Evangelization Center in San Juan de la Maguana.

Program Expands Access to Formal Credit

Abinader also announced the expansion of “Tu Firma es Tu Garantía”, a program created to help microentrepreneurs obtain formal financing without requiring a traditional guarantor. The initiative is intended to support business creation, employment and economic activity in San Juan province.

The program emerged from concerns raised by women entrepreneurs in San Juan who said they faced difficulties obtaining loans because they could not find acceptable guarantors or co-debtors. The government subsequently developed a financing mechanism intended to give small businesses an alternative to informal lenders, where borrowing can involve significantly higher interest costs.

Promipyme describes “Tu Firma es Tu Garantía” as a financial inclusion initiative for microentrepreneurs and entrepreneurs, particularly those without access to conventional banking services. The program does not require traditional guarantees and places particular emphasis on activities led by women.

Promipyme Reports Nearly RD$1 Billion in Placements

Promipyme director general Fabricio Gómez Mazara said the program has placed RD$979.3 million in financing, equivalent to 8.2% of the institution’s credit portfolio. He said the initiative is intended to remove one of the main obstacles faced by small businesses seeking formal financing: the absence of a guarantor or co-debtor.

The program’s structure is designed to make formal credit more accessible to entrepreneurs who may otherwise have limited financing options. Promipyme currently states that “Tu Firma es Tu Garantía” can provide loans of up to RD$150,000, subject to its eligibility and credit assessment requirements.

Gómez Mazara also praised the administration’s support for micro, small and medium-sized enterprises, pointing to financing and other measures intended to expand access to capital and reduce barriers for entrepreneurs.

San Juan Entrepreneurs Highlight Business Impact

San Juan provincial governor Ana María Castillo said the financing gives local entrepreneurs an opportunity to strengthen their businesses, create jobs and improve household incomes. The province, located in the southwestern Dominican Republic, has an economy with a significant presence of small businesses and agricultural activity.

Entrepreneur Wanda Ramírez, speaking on behalf of the beneficiaries, said Promipyme financing helped her strengthen Nelly Snap Service, combining access to credit with business guidance and training.

For small businesses, access to formal financing can provide capital for inventory, equipment or expansion while also creating a pathway toward a formal credit history. The government’s emphasis on removing guarantor requirements is particularly relevant for entrepreneurs who have viable businesses but lack the personal networks or assets traditionally used to secure loans.

Women Remain a Key Focus

The focus on women entrepreneurs reflects a broader strategy within Promipyme’s lending programs. The institution launched “Tu Firma es Tu Garantía” specifically to address financing barriers faced by women microentrepreneurs, who have frequently cited difficulties finding guarantors as an obstacle to obtaining credit.

Promipyme’s current program information says eligible businesses generally need to demonstrate at least six months of operation and complete a financial and social assessment. The institution also provides technical support and training as part of its broader approach to strengthening small businesses.

The expansion in San Juan therefore combines direct lending with a policy objective that goes beyond the immediate disbursement: increasing the number of entrepreneurs able to participate in the formal financial system and use credit to sustain or grow their businesses.