The Official Credit Institute (ICO) announced that, From this Friday, banks will be able to join the DANA guarantee contractaimed at supporting businesses and families affected by the recent DANA. However, entities can now offer retroactive financing under the conditions of the guarantee.
These guarantees, which reach a value of 5 billion eurosaimed at 32,000 businesses and more than 150,000 households. The first tranche, of 1,000 million, was approved by the Council of Ministers, and will be activated gradually depending on demand, assured the president of the ICO, Manuel Illueca.
Illueca emphasized that This line of guarantees does not replace direct aid, but rather advances funds to avoid liquidity problems.. The guarantee covers up to 80% of the principal, at no additional cost to banks, which will reduce costs for beneficiaries.
Europe Press
THE houses will be able to access a mode of guarantee which does not require additional guarantees and this covers verified damages. Beneficiaries must submit a responsible declaration that certifies their residence in the affected areas or their employment relationship therein.
For companiesthere is a second type of guarantee which covers the help requestedallowing interest to be paid once compensation has been made. If the assistance does not fully cover the losses, the loan can be modulated to maintain the flow of activity.
Finally, he considers a third method of investment which recover the productive capacity of companies. This system offers financing of up to 12.5 million euros, with durations of five to ten years, and grace periods of up to 12 months adjustable depending on the type of investment.
