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Expanded until the end of 2021 the line of advantageous loans for the agricultural and livestock sector

In 2020, 18 loans of this type were granted, with a total amount of 2.4 million euros that helped maintain 124 jobs

The Community has extended its Finance-Agro Line until December 31, 2021, which, through the Institute of Credit and Finance of the Region of Murcia (ICREF), injects liquidity under advantageous conditions to the agricultural, livestock, fishing and agri-food. Thus, this financing route will continue to provide loans of up to 300,000 euros with which to face investment projects or working capital needs. The previous term of validity was December 31, 2020.

In 2020, 18 operations of this line were granted, for a total amount of 2.4 million euros that helped maintain 124 jobs. Since the start-up of the line in 2018, the number of loans granted is 62, for a total amount of 9.8 million euros that have allowed the maintenance of 844 workers.

Financia-Agro has a total of 14 million euros to grant in credits at very low interest and with special conditions, adapted to the needs of the sector. In the event that the loans finance investment projects, the maximum repayment term is twelve years, while if they are intended to satisfy working capital needs, the maximum repayment term is five years. The applicable interest rate is the average value of the one-year Euribor, plus two points.

In addition, there is the possibility of a grace period of up to three years depending on the purpose of the operation, which means that, during this maximum period, the beneficiary can request to pay a less monthly fee. In addition, the repayment period is up to twelve years, and in order to adapt to the needs of each applicant, the installments can be monthly, quarterly, semi-annual or annual.

The loans are 100% guaranteed by Avalam (the Recproca Guarantee Company) and the collaborating financial entities are Bankinter, Abanca, Banco Sabadell, Cajamar, Caja Rural Central, Caja Rural Regional and Caixabank. It is a line that, in addition, results in groups such as young entrepreneurs, with more difficulty in accessing credit. At the same time, the competitiveness and sustainability of the regional agri-food industry are improved.

Those interested can obtain information on this credit line at any office in the Murcia Region of the seven collaborating financial entities, or through Avalam. You can also request more information by calling 968 375325 and 968 375323.

ICREF Board of Directors

The ICREF board of directors adopted this extension of Financia-Agro during a meeting that was chaired by the Minister of the Presidency and Finance, Javier Celdrn, and which also approved the report on activities of this body during the 2019 financial year. that the ICREF facilitated 71 credit operations last year, with a global injection of 11.6 million euros.

Other ICREF milestones that were analyzed during the meeting were the continuation of the restructuring process of the Community’s debt portfolio, in order to pay less interest; the collection of financing to cover the damages caused by DANA, or the determination of the financing needs of the Community, among others.

Javier Celdrn pointed out that “the Finance-Agro line is very well received by the productive fabric of regional agriculture because it makes it easier for them to access credit. This is very positive, because it favors investment and translates into the creation and maintenance of Job positions”.

Financing-100 Line also expanded

Another decision of the ICREF board of directors was to extend until November 7, 2021 the deadline to request the Financing Line-100. Through this line, businesses with ten or fewer employees can obtain loans of up to 100,000 euros, to undertake investments or to respond to their working capital needs.

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