CaixaBank offers 5 million financing to Valencian SMEs with support of SGR

CaixaBank offers 5 million financing to Valencian SMEs with support of SGR

CaixaBank has established a line of financing of 5 million euros for self-employed workers, micro-enterprises and small and medium-sized enterprises (SMEs), with headquarters in the Valencian Community, with the approval of Afín SGR, for investment and working capital needs .

CaixaBank and Afín SGR (Reciprocal Guarantee Company) signed a collaboration agreement on Tuesday that includes this line of financing, they said in a press release.

The financing line offered by CaixaBank may be used for investment needs of up to 200,000 euros and over a period of 8 years, plus 1 deficiency.

For working capital, the limit has been set at 150,000 euros and an annual renewable term of up to 3 years, with very competitive financial conditions.

Under this agreement, which may benefit companies and business projects with headquarters in the Valencian Community, the two entities will develop quality products that provide adequate financing to the needs of each company, which will allow operations to be formulated in conditions advantageous.

Among the common services that CaixaBank and Afín SGR will provide are accounts or lines of credit, loans and financing of imports and exports.

President of Afín SGR, Manuel Illueca , has stated that the new SGR has started “with vigor” the year and, during the first two months, the requests for guarantees exceed 6 million euros, which doubles the figures of the same period of 2017.

The average amount of the guarantees granted by Afín SGR stands at 60,000 euros, an amount adjusted to the autonomous and micro-businesses of the Valencian Community.

For its part, the territorial director of CaixaBank in the Valencian Region, Xicu Costa , has indicated that for the entity it is “a satisfaction” the formalization of this agreement, which will continue to allow more Valencian companies to access adequate financing for their projects.

CaixaBank’s service model for corporate banking is based on a long-term relationship with customers through a specialized service. This commitment has made it possible to strengthen the business banking business and strengthen the position in invoicing, “confirming” and foreign trade.

The business banking business is managed in the 10 specialized companies centers of CaixaBank in the Comunitat Valenciana, and customers can also receive support through the branch network of the entity.