Unicaja Banco S A : and Garántia renew their agreement and allocate €160 million for loans with guarantees to provide financing to SMEs and to the self-employed

Unicaja Banco and Garántia renew their agreement and allocate €160 million for loans with guarantees to provide financing to SMEs and to the self-employed

Unicaja Banco makes available to these groups a full range of products and services especially designed for them and on advantageous terms, with the aim of boosting business initiatives, digital transformation and the deferral of recurring payments, especially now in view of the economic situation caused by the effects of the coronavirus

21 JUL 2020

2 Min reading

Unicaja Banco has renewed its agreement for financial collaboration with Garántia, Sociedad de Avales y Garantías de Andalucía, under which they allocate €160 million to provide financing with guarantees for Andalusian SMES and freelancers, thus contributing to boost the activity of those groups. In particular, a special COVID-19 line has been set up for Andalusian SMEs and freelancers for an amount of €100 million, as well as an additional ordinary financing line for businesses for an amount of €60 million.

The agreement, which has been signed by Unicaja Banco's Chairman, Manuel Azuaga, and by Garántia's President, Javier González de Lara, brings to SMEs in Andalusia a wide range of specific financing to support the development of their activities. This agreement is especially remarkable in the current situation, due to the effects caused by the COVID-19 on the economy, and it adds to the measures implemented by Unicaja Banco for businesses and families to mitigate the said impacts.

These financing lines are conceived for credit transactions to be formalized during one year from the signing of the agreement, with extraordinary interest rate and term conditions, and with the joint guarantee of the Andalusian mutual guarantee company. SMEs and freelancers, regardless of their legal form, may apply to these special financing lines with guarantees.

Under this agreement, Unicaja Banco and Garántia make available to these groups a wide range of financing under advantageous terms, in order to boost business initiatives and to contribute to creating and maintaining jobs, especially in view of the current economic situation caused by the coronavirus.

Unicaja Banco's support to SMEs and to the self-employed falls within its activity as a financial institution focused on retail and proximity banking, playing a significant role in the promotion of local development.

Businesses in general and SMEs and the self-employed in particular continue to be one of the key objectives of Unicaja Banco's financing policy. In this sense, the institution is active in providing funding to these groups, essential to boost the economy and job creation.

Garántia (www.sgrgarantia.es) has among its main functions to provide businesses with access to financing on advantageous terms by granting guarantees, as well as to support the Andalusian business fabric with information and financial advice through its eight branches in the Andalusian provinces.