New Law will expand credit to MSMEs: top official
Santo Domingo.- The Industry and Commerce Ministry (MICM) said Tuesday that the recently enacted Law 45-20 on Transferable Guarantees will expand credit for small and medium and micro-businesses (MSMEs).
In a press release, the institution affirmed that the law is “very positive,” since it establishes the legal framework of the security guarantees regime, the electronic security guarantees system and the execution processes related to those guarantees.
It said the legislation establishes a unitary legal regime for the incorporation, effectiveness, publicity, registration, priority, execution and everything related to guarantees.
“The rule reinforces the legal security to do business in the country and will be highly beneficial for small and medium enterprises, as it will boost the credit directed to this sector that makes up most of the productive chain of the nation’s economy.”