When an earthquake strikes, the damage doesn’t end with the tremor. It comes afterward: the business that can’t open, the family that doesn’t know how to start over, the wall that couldn’t withstand the impact. Bancamiga Banco Universal understood this from the outset and acted accordingly: it allocated a $5 million fund, available now, to support the recovery of affected individuals and communities.

“Our priority is that no affected family or business feels alone in this. We are here to help you get back on your feet,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

The fund is designed to be truly helpful, not to add to the bureaucracy at the worst possible time. Applications are already being received through business executives. The process is streamlined, the decision-making process is humane, and the response is immediate for the most urgent cases.

Who is it for?

The fund serves individuals, businesses, small and medium-sized enterprises in the affected areas. Resource allocation takes into account the specific circumstances of each case: the physical damage sustained, the loss of income, the business interruption, the impact on jobs, and the damage to the primary residence. Those who need it most, first.

What does the fund include?

The terms, depending on the case, were designed so that the loan is a recovery tool, not an additional burden:

1. Special interest rates—below standard market rates.
2. Grace period for principal repayment — time to breathe before starting payments.
3. Flexible repayment terms — adjusted to the actual recovery rate of each case.
4. Fee waivers or reductions — lower costs when it matters most.
5. No prepayment penalty — complete flexibility if recovery is faster.
6. Flexible collateral options — tailored to the applicant’s current situation.

How to apply?

Applications are received through Bancamiga business executives. More complex or critically impacted cases are handled directly by the Natural Disaster Contingency Fund, guaranteeing priority attention and a fair distribution of resources across all affected areas and sectors.

“This fund is a swift and humane response, but also a responsible and sustainable one. The goal is not only to provide loans: it is to support individuals and businesses so they can recover, resume their operations, and rebuild what they lost. Venezuela needs us to be present, and Bancamiga is there,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

About Bancamiga Banco Universal

Bancamiga Banco Universal, C.A. is a Venezuelan financial institution with 19 years of continuous operation, more than 1,221,000 active clients, and a projected transaction volume of US$26.963 billion in 2025. It operates under the supervision of SUDEBAN and complies with Mastercard’s international compliance standards as the principal licensee in Venezuela.

Information and image courtesy of Bancamiga

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La entrada Bancamiga shows solidarity with the country by activating a $5 million fund apareció primero en Bitfinance.

A special financing fund, the restructuring of loan portfolios, and the deployment of direct logistical aid are part of the contingency plan implemented by Bancamiga following the earthquakes that struck the country on Wednesday, June 24.

The humanitarian assistance program aims to mitigate the material damage suffered, with a special focus on the state of La Guaira. Immediate humanitarian assistance has included the shipment and distribution of drinking water, milk, mattresses, household goods, and non-perishable food items to this region.

Similarly, to centralize the receipt of supplies and coordinate support, 50 branches nationwide were designated as collection centers.

On the financial front, the strategy aims to safeguard the distribution chain of essential goods and provide liquidity to the affected productive sectors.

Current loans: Bancamiga will restructure terms and adapt payment plans to the actual recovery capacity

Bancamiga established a business and commercial recovery fund of $5 million, intended to provide financing under special conditions to merchants and business owners whose inventories or premises suffered damage, primarily in the state of La Guaira.

In parallel, a review of existing loans for clients impacted by the earthquake has begun in order to restructure their terms and adapt payment plans to their actual recovery capacity.

Business operations will also be maintained through the daily settlement of transactions processed through Bancamiga point-of-sale terminals.

The plan also includes the temporary waiver of fees on digital channels to expedite the transfer of funds between individuals. During the contingency, Mobile Payment transactions of Bs. 150,000 or less will not generate commissions, while the Solución Amiga service will operate without deductions to allow the immediate entry of funds from abroad.

The technological platforms and customer service channels remain operational to support the flow of essential banking services, the Venezuelan banking and financial institution concluded in a statement.

With information and images for illustrative purposes courtesy of Bancamiga Banco Universal

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La entrada Bancamiga implements humanitarian and financial assistance plan following earthquake apareció primero en Bitfinance.