Financial measures to tackle coronavirus crisis in Castilla y León (Spain)

Financial measures to tackle coronavirus crisis in Castilla y León

The Institute for Business Competitiveness of Castilla y León (ICE), a member of ERRIN, is the regional agency responsible for economic growth activities. It is managed by the Regional Government of Castilla y León. ICE’s objective is to boost the competitiveness of Castilla y León’s productive scheme and to invigorate and subsidise the business innovative strategy

ICE has recently launched a package of financial measures to help regional companies overcome the coronavirus crisis. Some of these measures are being managed jointly with Iberaval, a guarantee company with a high regional share.

The measures are mainly aimed to SMEs and the self-employed, to facilitating their access to loans thanks to the free or subsidized guarantees provided by the region. Loans should be dedicated to increasing available cash flow, supporting business activity, implementing digital tools to boost telework and deferring loan instalments.

Until March 31, 14.3 million euros have been granted to 226 applications from companies to face the health crisis.

Read more here. 

Detailed measures:

 

FINANCIAL SUPPORT LINE

BENEFICIARIES

AMOUNT

TIME LIMIT

Liquidity

MicroSMEs and the self-employed

€6.000 - €40.000

12-36 months

Business activity

SMEs from special affected sectors: Hotel and catering,  Commerce and Industry

Depending on their short term needs and capacities. Until €600.000

36-48 months

Digital transformation (cash flow and investments)

SMEs

€6.000 – €600.000

12-60 months

Deferring of certain loans instalments

Beneficiaries of “Reindustrialization” and “Companies Growth” programmes managed by ICE

Depending on the specific  loan instalments plan of the company

Until six-months deferral

More information (in Spanish): https://empresas.jcyl.es/web/es/lanzadera-financiera/medidas-financieras-ante-crisis.html