Autónomos and pymes (small & medium companies), especially micro-pymes, can now ask for loans of up to 50,000 euros to tackle their cashflow problems.
These loans have 100% backing by the RGC, Garántia. An RGC is a Reciprocal Guarantee Company, which is a non-profit financial entity, operating on a regional level and regulated by the Bank of Spain.
The Junta de Andalucía has agreed to transfer 36m euros to the Fondo de Provisiones Técnicas de Garántia. The Junta is the major shareholder for the entity. This quantity can be incremented up to 500m euros.
The regional Minister of Finance, Industry and Energy pointed out that the Junta’s scheme surpasses that of the Central Government, which only covers 80% of the bank guarantee, whereas the Junta guarantees the full 100%.
This special loan guarantee is applicable to those taken out between the 14th of March to the 31st of October this year.
So, who can take advantage of this measure?
All “viable” small companies and autonomous workers (self employed) whose centre of operations is in Andalucía which have had their incoming figures impacted by the COVID-19 emergency measures.
How do you apply for it?
You should go to your own bank, although it is the RGC Garántia who will evaluation your loan application and make the decision whether to accept or reject it.
How much can you apply for?
You can apply for up to 50,000 euros thanks to the aval (guarantee) from the Junta.
How long do you have to pay it back?
The maximum loan period is five years with a grace period of up to 12 months.
Obviously for definitive information you should contact your bank manager for the exact details.