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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