The Government has increased the line of guarantees for a total of 10 billion euros to help in the liquidity for SMEs and the self-employed.
New aid amounts
This expansion of the line of guarantees to increase the liquidity of the self-employed and SMEs, which began at the beginning of the invasion of Ukraine within the European Temporary Framework, establishes new amounts of this aid:
- Maximum aid amount: 500,000 euros
- 62,000 euros for companies dedicated to the primary production of agricultural products
- 75,000 euros for companies dedicated to the fishing and aquaculture sectors
Previously, this aid was 5,000 million euros regardless of the economic sector. The only exception was the financial and insurance sectors.
Likewise, the aid that was proposed in general was 400,000 euros and 35,000 euros for companies in the primary sector, aquaculture or fishing, something that has been significantly increased in this new call approved by the Council of Ministers.
The Official Credit Institute (ICO) is in charge of resolving incidents that arise for the execution of these guarantees.
Purpose of these guarantees
- Salary payments
- Supplier invoices pending settlement
- Rentals of premises, offices and facilities
- Supply costs
- Need for working capital
- Other liquidity needs, including those derived from maturities of financial or tax obligations
Processing method
Interested self-employed persons and SMEs should contact any of the credit institutions, financial credit establishments, payment institutions or electronic money institutions that are subscribed to the Official Credit Institute.
The financial institution will decide on granting the corresponding financing to the client in accordance with its internal procedures and granting and risk policies. These may not condition the approval of loans to the client's contracting of any other service or product.
Links of interest
https://www.boe.es/boe/dias/2022/10/15/pdfs/BOE-A-2022-16830.pdf
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