Access to credit is one of the main concerns of small and medium-sized companies in Galicia.
For this reason, the recent publication in the DOG of the resolution that establishes the support framework for access to credit for Galician SMEs, implemented by means of an agreement between Igape, the reciprocal guarantee societies (SGR) and the affiliated credit institutions, is excellent news.
This resolution establishes two types of financing lines: REAVAL GROWTH and REAVAL GUARANTEES.
The first line allows access to long-term loans to finance productive investments and/or structural working capital. For its part, the REAVAL GUARANTEES line offers guarantees to third parties linked to traffic operations or technical guarantees.
The financial entities that have adhered to this initiative are Abanca Corporación Bancaria, Banco Bilbao Vizcaya Argentaria, Banco de Sabadell, Bankinter and Caixa Rural Galega, Limited Galician Credit Cooperative Society.
For their part, the SGRs that have joined are the Reciprocal Guarantee Society of Small and Medium Enterprises of Pontevedra and Ourense (Sogarpo, SGR), Afianzamientos de Galicia, Reciprocal Guarantee Society (Afigal, SGR) and Iberaval, SGR.
Small and medium-sized companies with tax domicile or economic activity in Galicia, as well as groups of natural or legal persons, community property, civil societies or any other type of economic unit, can access these lines of financing through the headquarters Igape electronics.
The deadline for submitting applications is from May 12 to September 29, 2023.
From the Polígono San Cibrao Business Association, we want to highlight the importance of these lines of financing for the promotion of the business fabric in Galicia, especially in a context of economic uncertainty like the current one.
Financing is essential for investment, growth and job creation in our community.
At a time like the present, it is essential to promote the Galician business fabric and these financing lines are an essential tool for this.