In this way, young people are helped to get the loan, supporting the guarantee together with the collaborating financial institution. The total amount of the loans of the recognition resolutions amounts to 3,371,864 euros.
This financial instrument represents an advance in equal opportunities since it allows the development of projects for young farmers who do not have the necessary endorsement. The loans are granted by the collaborating entities that have signed the agreement, while the Ministry of Agriculture, through the EAFRD funds, is the one that guarantees the loan, as well as compliance with the requirements, says the Board in a press release of Extremadura.
The loan has preferential conditions with a maximum interest of Euribor + 2 percent and can be combined with the installation aid to the agrarian company.
The call has been open since last November, it can be requested at any time and the maximum resolution period is two months from the request. The objective of this financial instrument is “quick and easy” access to credit for young farmers.
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