CECA and CEOE have signed a collaboration agreement to finance Spanish companies worth 45,000 million euros through a battery of financial services and solutions under preferential conditions. The objective is the contribution to the creation and growth of companies, with special attention to the financing of innovation, entrepreneurship and internationalization.
One of the main focuses of the agreement is to help the internationalization of Spanish entrepreneurs. In this sense, the agreement includes a series of specific financial products and services to help companies overcome the most common barriers encountered when starting their activity outside of Spain. These services are related to the international collection and payment methods, the financing of exports and imports, the opening of accounts abroad or the accompaniment in international markets through branches and representative offices, among others.
The agreement signed today is framed within a complex economic context in which it is essential to support the productive fabric to increase the competitiveness of Spanish companies. Therefore, both organizations consider it essential to carry out joint actions of business and financial momentum that are beneficial for the whole society.
To have access to these special financing conditions, interested companies must be members of CEOE. Subsequently, each financial entity will evaluate each of the requests independently, analyzing factors such as the economic sector in which the activity will be carried out, the solvency or the repayment term of the project.
Extensive capillarity to reach the entire territory
All companies interested in accessing these lines of credit may consult the requirements both on the websites of the entities and at the branches. The banks and savings banks associated with CECA have a network of more than 11,000 offices in Spain, which offers enormous capillarity and facilitates access channels from anywhere in the country.
The entities associated with CECA will make available to the companies affiliated to CEOE a Specialized Service Line to answer questions about the Agreement or request information on the scope of the offer of financing products of the Entities. In this way, the initiative promoted by CECA and CEOE offers a comprehensive set of services.
Isidro Fainé, president of CECA, stressed that “it is a major agreement with an impact on society as a whole. Two key organizations of the economic and business fabric in Spain join forces to stimulate the growth and internationalization of companies throughout the country. It is these types of alliances that make us decidedly stronger and more competitive beyond our borders. In 2018 alone, the ECSC sector granted more than 177,000 million euros in loans generating a dynamic impact of the economy of 87,547 million euros. The collaboration we announce today allows us to give a decisive boost to this ECSC commitment for economic growth and with entrepreneurs ”.
For his part, Antonio Garamendi, president of CEOE, said that “It is always important to launch channels and tools that help companies finance, and especially in internationalization processes, especially in an economic context like the current one and in a scenario of globalization with no return. Recall that in recent years the weight of the presence of Spanish companies abroad has increased, from 50,000 to about 200,000 export companies. ”
This is a pioneering initiative, since it is the first time that such an agreement is promoted at the sector level. CECA and CEOE have also agreed to form a Joint Monitoring Commission that will meet periodically throughout the term of the agreement.