Avalmadrid presents two new lines of financing to help Madrid taxi drivers
The reciprocal guarantee society (SGR) of the Community of Madrid, Public mattresses, has presented the “Special TAXI Lines”, its latest package of measures aimed at all Madrid taxi drivers.
The objective is to obtain liquidity and time to limit the economic impact on the sector and they are aimed at professionals of the steering wheel, whether they are current or new partners.
The taxi sector has been one of the most economically affected by the coronavirus crisis. Specifically, the group has suffered a turnover drop of 80% due to the lack of tourism and events.
The limitations in air and rail transport, as well as closures and curfews in the inn have considerably affected a sector already punished in itself due to the entry into the capital of transport companies with Uber and Cabify.
Pedro Embid, general director of the SGR, explained the launch of the “TAXI Special Lines”:
“Our unique mission is to help the SMEs and the self-employed in Madrid who need it most, this time, the taxi drivers, since they are suffering the devastating consequences of the pandemic and need extra liquidity to cope with the crisis.”
TAXI Special Lines
Avalmadrid has a long history of supporting and promoting this sector: the Madrid SGR has carried out a total of 1,400 operations for an amount of 128 million in the sector and currently has about 700 taxi drivers with operations in force.
In this sense, the SGR is now launching, through its “Trust Plan”, two lines, the objective of which is to provide enough time or liquidity so that they can overcome the crisis and maintain both their activity and employment.
The “Special TAXI Lines” include two modalities:
- Línea A tu Lado – TAXI: this line is aimed at the almost 700 current members of Avalmadrid, who have been affected by the COVID-19 crisis, offering them the possibility of giving deficiencies or the renewal of lines that end in the coming months .
- Vitamina Line – TAXI: aimed at all taxi drivers in the Community of Madrid,
as many current members as new members, and consists of loans of up to € 15,000 over 4 or 5 years with the possibility of a 1-year grace period.
Avalmadrid presents two lines of financing to help taxi drivers
