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Bankia’s commercial director in Valencia and Castellón, Rosa Piqueras; the Bankia’s corporate manager in Valencia and Castellón, Jaime Casas; the director of Afín SGR, Cristina Alemany; and Bankia’s corporate business manager in CV and Murcia.

Business

Bankia and Afín SGR sign a line of 36 million to finance self-employed workers and SMEs in Comunidad Valenciana

The entity shows its commitment to the Valencian business fabric in delicate moments due to the crisis derived from COVID-19.

Communication Bankia

By  Communication Bankia

Publish on 
29 June 2020 - 12:15

  • The agreement includes a special line for 5 million to finance operations up to 200,000 euros linked to the situation caused by the COVID-19 crisis
  • For granting its guarantee, Afín SGR will study the risk of operations dated prior to the declaration of the state of alarm

Bankia and Afín SGR, the Mutual Guarantor Company in the Comunidad Valenciana, have signed a line of financing for 36 million euros aimed at facilitating access to financing for micro-enterprises, SMEs and self-employed workers of the Comunidad Valenciana that have been affected by the COVID-19 crisis.

The agreement, which is a renewal of the collaboration agreement between the two entities and goes from 15 to 36 million euros, has been signed by the director of Afín SGR, Cristina Alemany, and by Bankia’s Corporate Regional Director in Valencia and Castellón, Jaime Casas; and by Bankia’s Commercial Director in the region, Rosa Piqueras. The event was also attended by Bankia’s Corporate Business Manager in Murcia and the Comunidad Valenciana, Carlos Aguilera.

The agreement includes a line of credit of 31 million to facilitate access to financing for micro-enterprises, SMEs and self-employed workers in the Comunidad Valenciana and, in addition, an additional line of 5 million, extendible to 10 million, has been established to address operations linked to the situation caused by COVID-19 among companies in the Comunidad Valenciana.

The director of Afín SGR would like to thank Bankia “for the effort made in designing the collaboration agreement. The defined conditions are exceptional, designed to offer viable solutions to the business fabric of the Comunidad Valenciana”. Likewise, Cristina Alemany recalled that “Afín SGR is working to manage the high demand for guarantees that has been experienced. About to end the first half of the year, the bank has already exceeded the figures for the previous year, exceeding 17 million euros in formalised guarantees”.

The corporate manager of Bankia in Valencia and Castellón has stressed that “this line of financing reflects the commitment of both entities with Valencia’s business fabric through financial products designed to support the economic activity of SMEs and self-employed workers in these difficult times”.

In this regard, Bankia’s commercial director in Valencia and Castellón stressed that “the bank has been working since this crisis began to be part of the solution. We want to stand by the companies because if companies move forward, all citizens will leave this economic crisis generated by COVID-19 behind as soon as possible”.

Up to 500,000 euros in investment and working capital

The main line of 31 million euros will be allocated to investment and working capital transactions and will have a limit of 500,000 euros per holder or economic group. For its part, the ‘Special COVID-19 Line’ will have a limit of 200,000 euros and will be used to finance operations related to liquidity needs, such as the payment of salaries and bills, rent, commercial expenses, etc.

In accordance with the exceptional situation caused by the pandemic, Bankia and Afín SGR have established maximum repayment terms of up to 60 months on loans, including 12-month grace periods. Likewise, they will analyse the risk of the operations, taking into account the situation of the company prior to the State of Alarm.

Since this exceptional situation was declared, the demand for pre-feasible guarantees that has reached Afín SGR has multiplied by 6.5 compared to the requests for the previous year, exceeding 86 million euros in mid-June.

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