SODIAR extends until June the deadline to access its Covid-19 financing line

The Governing Council authorized this extension this Wednesday, which will allow it to continue providing liquidity to the productive fabric. In this way, the period for requesting operations is extended until June 10 and the period to formalize them, until June 30.

This line of financing was launched on April 20, with an endowment of 7 million euros, to meet the working capital needs of the self-employed, cooperatives and Aragonese companies facing the socioeconomic situation generated by Covid-19.

The period of validity of this line ends on December 31, but the evolution of the pandemic advises the maintenance of measures to support and reinforce the Aragonese business fabric, and for this reason it has been decided to extend the period of application and formalization of these operations .

For this, it has been necessary to adapt the clauses of the contract for the constitution of the participatory loan made by the Corporation of Public Companies of Aragón to SODIAR in order to start up this working capital line. This previous loan was authorized on April 16 by the Governing Council, which this Wednesday gave the green light to its modification and to the new operating regulations for the financing line.

OTHER TOOLS

In that initial injection of liquidity to Aragonese companies, the Department of Economy, Planning and Employment has also made money available to the productive fabric through SUMA Teruel. In total, 13 million euros through the two public companies.

In addition, SODIAR -like SUMA Teruel- has offered moratoriums on its outstanding loans since April and, through Avalia, 40 million euros have been made available to the Aragonese productive fabric in guarantee of guarantees.

In June, SODIAR launched another two new lines of financing – endowed with another 10 million euros – for SMEs, the self-employed and entities of the social economy aimed at paying for the necessary measures to restart and safely develop the activity and to address its digital transformation and the impulse to telework.

Both lines of financing have been accompanied by two complementary calls for direct aid to support these investments and discount the interest rates of the loans obtained to undertake them.

– .