Biess allocates $ 40 million to provide loans for food lawsuits

The IESS Bank (BIESS) will allocate approximately $ 40 million for unsecured loans and secured lending to parents who wish to pay the food alimony or demand processes. This, after making an agreement with the Justice Department yesterday.

The loan will have two ways: One, to the defendant father that has not had a warrant against him for detention and one for who is being held in detention centers.

The loan will have an interest rate of 9.75% to a maximum period of 5 years. “And where we calculate the borrowing capacity that the parent may have from his income (…)”, said Hugo Villacrés, Biess Chairman.

The calculated potential demand would be of 130,000 affiliates.