The Department of Enterprise and Employment, through an agreement of collaboration with the Catalan Institute of Finance (ICF), is launching a line of funding in the form of a guarantee of 45.5 million euros to finance business investment projects and capital shops and freelancers. Of these, 25 million will go to operations of micro, small and medium business sector, craft, fashion and services. The aim is to facilitate access to financing companies, promote the recovery of economic activity and promote economic development. In the total line of credit provides secure financial transactions of up to 65 million. The loans are aimed at financing investment expenditure and working capital expenses, a minimum of 10,000 and a maximum of 100,000 euros.
The Catalan Institute of Finance will answer 70% of the outstanding principal of each loan arranged through financial institutions collaborating.
- Interest rate: Euribor 6 months plus a spread of up to 5.5 percentage points.
- Amount: The amount of the loan will be at least $ 10,000 and maximum of $ 100,000 per beneficiary.
- Term: The maximum loan term is 5 years.
- Lack of Redemption: 2 years, including the term.
- Disbursement: The loan will be available in full at the time of signing.
- Guarantee that the bank may consider collaborating to ensure operation in accordance with its internal risk assessment criteria. Additionally, all operations will have the formal endorsement of the ICF 70% of the principal lives.
- Commissions: organizations can not ascribe any commission on transactions with beneficiaries, except the origination fee, a 0.5% of the loan arranged.
The CCAM will conduct the technical assessment prior to the transaction and issue the relevant resolution, which will notify applicants and companies will have a maximum validity of 60 days.
The deadline for submissions of applications will begin on the day following the publication of the decision to DOGC and remain open until 30 October 2012.
The beneficiary shall submit the resolution granting the financial partner (La Caixa and Banco Sabadell) before 15 November 2012.
Source: Consortium for Trade, Craft and Fashion of Catalonia.