Factsheet for case ES-2020-14/1891 – measures in Spain
, applies regionally
|Time period||Temporary, 01 April 2020 – 31 March 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Oscar Molina (UAB) and Eurofound|
|Case created||26 April 2021 (updated 11 May 2021)|
With the aim of injecting the necessary liquidity to SMEs, self-employed workers and mutual insurance companies and favoring the return to activity in the de-escalation, these groups can request, with great advantages, microcredits of €9,000 to €15,000 guaranteed by Garántia and with a duration between 3 and 5 years.
Thanks to the budget increase of €51 million by the Junta de Andalucía to the agreement previously signed with Garántia, both the cost of the guarantees and the interests thereof will be financed during the first year of grace, so the cost of said guarantee will be zero.
These are loans with a significant reduction in the economic-financial conditions of access to existing guarantees, with an agile and fast processing by Garántia and the Ministry of Finance.
The beneficiaries of these microcredits will be self-employed and Micro-SMEs with establishment permanent or main center of activity in Andalusia, affected by the COVID-19 crisis.
Can access to these microcredits, the self-employed and SMEs with tax benefits, positive equity and generation of sufficient resources to pay your debt up to 31 December 2019.
Moreover, those companies benefiting from these microcredits have to maintain employment levels during the period enjoying the credit
The required documentation will be the self-assessment of personal income tax for the last year or annual statement-summary of VAT for 2019 if it had not been submitted; Proof of self-employed or mutual insurance payment, with a minimum seniority of 31 December 2019; certificate of being up to date with the Treasury and Social Security and analysis of the bank does not appear in any record of defaults.
No information available.
|Does not apply to workers||
|Does not apply to citizens|
Local / regional government
No special funding required
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
No involvement of social partners was reported
No views of social partners has been reported
Eurofound (2021), Microcredits for the self-employed and SMEs, case ES-2020-14/1891 (measures in Spain), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.