Government finance for businesses and sole traders agreed: €40bn to help with post-pandemic recovery
Thursday, July 30, 2020 @ 11:13 PM
A NEW line of credit totalling €40 billion has been agreed by Spain's government to help boost cashflow, capital and investment for businesses.
An initial credit facility of €100bn created earlier this year has already been used up, so a further cash injection to help traders finance their activities was approved by the Council of Ministers this week.
Loans are available for financing circulating capital and for helping businesses expand and modernise through investment in two key areas that offer greater added value to their products and services, attracting and keeping customers, making life easier for these and for the business, and helping the owners to avoid being 'left behind' in a competitive market.
These two key areas are digitalisation and environmental sustainability.
Investment is now more crucial than ever for traders and companies of all sizes, given that the State of Alarm and lockdown restricted activity and mobility, and the initial €100bn was largely aimed at increasing cashflow at a difficult time and in a format that is cheaper, more flexible and more accessible than bank-based business loans.
The additional €40bn has been set up to try to reactivate the economy which, in Spain, like in most countries this year, has suffered as a result of the pandemic.
Read more at thinkSPAIN.com