Tag Archive for bank loan

Motril Borrows to Pay Salaries

The Town Hall staff in Motril received half of their outstanding salaries after the Mayor negotiated a bank loan for 700,000 euros. Salaries for Town Hall employees – around a thousand workers – had been outstanding since September. Staff have been staging daily protests since the beginning of this month

Banks Take A Fifth

The Town Hall of Loja has to pay the equivalent of 8,000 euros a day to the banks to cover its loans, which represents 20% of its earnings.