The Ministry of Finance, in collaboration with the Valencian Institute of Finance (IVF) and the mutual guarantee company AfínSGR It is also launching its own zero-interest financing lines for the business world affected by DANA, as the ICO did. More specifically, Minister Ruth Merino announced today 350 million euros of liquidity at zero costthanks to new subsidized financial instruments.
As the head of the Treasury explained, these lines could be developed thanks to a direct contribution from the Generalitat of 65 million euroswhich will be used to cover the interest rate that would apply to these operations. Certain funds which are added to direct aid of 400 million already approved by the Valencian executive.
The plan presented this Thursday is based on two different financial instruments. A first line of enhanced financing of IVF is directed towards companies and endowed with 200 million euros. The second will be launched by Associated SGRthrough which liquidity will be injected into self-employed workers and SMEs concerned for an amount of 150 million.
Thanks to the IVF DANA line, subsidized loans will be offered with amounts between 200,000 and 3 million euros, intended to finance new investments and the renewal of stocks. The operations can thus be formalized until ten years and up to three grace periods for investment operations, and up to four years, with a grace period of up to one year for inventory replacement operations.
The amount of financing can reach up to 100% of the investment to be madea novelty since in ordinary IVF operations the amounts cannot exceed 80% of the investment. In addition, this body has designed for this line a special abbreviated analysis procedure for operations of up to 2 million euros, which will facilitate the processing of these credits and guarantee that liquidity reaches people as quickly as possible. concerned.
For self-employed workers
On the other hand, Afín SGR will launch a financing line also at zero cost, which complements the IVF DANA line. This new financial instrument is aimed at self-employed workers and SMEs, who will be offered loans between 25,000 and one million euroswith conditions and deadlines similar to those offered in the IVF range.
It should be noted that loans from the line launched by Afín SGR can be requested through the network of bank agencies that have signed an agreement with this entity (more than 90% of the agencies present in the Valencian Community) or directly through your. virtual office.
The Minister of Finance stressed that these are two financial instruments which complement each other and have the same objective: “to promote economic reactivation and inject the necessary liquidity to cope with the exceptional situation we are going through”.
These lines are in addition to those already approved by the state ICO, which also included those affected in general, for an initial amount of 5,000 million euros. Precisely, the Council of Ministers today approved an additional tranche of 240 million euros from the ICO DANA guarantee line to access interest-free loans also for companies and the self-employed.
