Caja Navarra has signed a collaboration agreement with the Autonomous Government of Catalonia, through the Catalan Finance Institute (ICF), to provide access to financing for working capital to companies with business projects which are feasible in terms of product and markets, as a means of overcoming circumstantial problems concerning access to credit.
The agreement is set to last until June 2010 or until applicable resources run out, should this occur at an earlier date.
The purpose of this agreement is to obtain surety for operations with maximum terms of three years covering the following percentages:
- Working capital: up to 50%
- Credit for advances on bills of exchange: up to 60%
- Credit for supplier confirming: up to 70%
- Investments: up to 50%
These sureties are available to those companies with registered offices and work facilities in Catalonia which meet the following requirements:
- Economic and financial feasibility to implement the Business Plan financing is being asked for.
- Positive assets.
- No debt arrears on the date on which the surety is issued.
The following companies are not applicable for financing of this kind:
- Companies from the financial or real estate sectors.
- Holding companies, unless investment is to be made for their industrial activity.
- Companies not up to date with tax and other payment obligations with the State, the Autonomous Government of Catalonia and the Social Security.
This agreement represents a further step in our policy of providing SMEs and the self-employed with financial solutions, in this case those in Catalonia. To date, we have reached numerous national- and Autonomous Community-scale agreements (ICO, CEN, Chamber of Commerce, Nafinco).