On December 21, 2010, Caja Navarra renewed the collaboration agreement with the Government of Aragón to create, maintain and strengthen Small and Medium Enterprises in Aragón, needing to foster all the initiatives which make it easy to access financing sources.
This is a specific program supporting access to financing for Aragon enterprises through creating the following lines of action:
- Line of financing with a maximum funding of €120 million for those projects which are economically and financially feasible, which are presented by small and medium entrepreneurs and self-employed workers from Aragón with a registered address is located in the Aragón Autonomous Community.
The following operations can be formalized:
- Financing RDI projects.
- Financing business growth projects, including working capital.
- Mortgage financing to purchase properties for commercial activity.
- Financing international expansion projects for enterprises.
- Financing investments regarding technological developments, efficiency improvement and the increasing of productivity.
The total amount of operations for one client or economic group formalized under this agreement may not surpass €300,000.
All operations to be financed will be done with the guarantee of AVALIA ARAGÓN S.G.R. and must comply with the following requirements:
- Technical, economic, financial and environmental feasibility.
- Total external financing may not surpass 85% of the total investment amount.
- Investment projects may not be more than 50% completed prior to the date the operation is requested and preparedness must be carried out beforehand with proof that the investment was made.
- The recipient must be in possession of the environmental authorizations required.
- In the case of financing intangible assets, it must not surpass 85% of the assessment value.