- More than 420,000 operations have already been approved, 98% aimed at SMEs and the self-employed.
- Catalonia, Andalusia and Madrid are the autonomous communities with the highest number of guaranteed operations.
- The tourism sector has the highest number of loans granted, more than 82,000, and the largest volume of financing, more than 8,600 million euros.
- 89% of the guarantees approved have been used to finance new credit operations with an average term of almost five years.
May 22, 2020. The Spanish self-employed and companies have received a total of 420,717 loans for an amount of 53,610 million euros guaranteed with the Line of Guarantees approved by the Government to guarantee liquidity, maintain the productive fabric and guarantee employment.
This Line has an endowment of up to 100,000 million euros. Four tranches have already been activated, for an amount of 84,500 million and the amount guaranteed so far amounts to 40,747 million euros, which has allowed channeling financing for more than 53,600 million, with data as of May 20.
SMEs and the self-employed continue to concentrate the largest number of approved operations and financing granted, with 412,684, 98% of the total, and a guaranteed amount of 28,614 million euros. This has allowed these companies to receive 35,832 million euros to cover their liquidity and working capital needs.
74% of the operations approved correspond to self-employed companies or micro-companies with less than 10 employees, which shows the capillarity of the Line of Guarantees.
The largest companies have received 17,777 million euros in financing, through 8,033 operations guaranteed with 12,133 million euros.
Distribution by autonomous communities and sectors
89% of the approved approved operations have been used to guarantee new loans, which, for the most part, 86.3%, are long-term, between four and five years.
Companies from all the autonomous communities are receiving guaranteed financing. Catalonia is the community with the largest number of guaranteed operations, with a total of 77,601 approved loans, which have allowed its companies to receive financing amounting to 9,744 million euros. Andalusia follows, with 64,523 loans and financing of 5,818 million euros; and the Community of Madrid, with 54,011 operations and 10,596 million of financing channeled to their companies.
The sectoral distribution shows that companies and businesses in the tourism, leisure and culture sector are the ones that have received the highest volume of financing, amounting to 8,606 million euros, through 82,324 loans granted. It is followed by the Consumer Goods and Commerce sector, with 42,701 loans and 3,444 million euros of financing and Construction and Infrastructure, with 40,411 operations and 5,618 million euros financed.
Public-private collaboration model
The purpose of the Guarantee Line is to guarantee liquidity and cover the working capital needs of companies and the self-employed in all sectors of activity to face the economic and social impact of COVID-19.
Credit institutions, financial credit institutions, payment institutions or electronic money institutions are in charge of analyzing and formalizing operations. So far, a total of 123 financial entities collaborate with the Official Credit Institute in the management, which makes the Line of Guarantees one of the largest and main exponents of public-private collaboration.
Since the approval of the characteristics of the Line of Guarantees on April 5, four tranches have been activated and 80,000 million euros have been made available to companies and the self-employed to guarantee the financing granted by credit institutions, credit financial institutions, payment entities and electronic money entities.
Additionally, 4,000 million euros have been approved to guarantee the issuance of promissory notes in the Alternative Fixed Income Market (MARF) and 500 million euros to reinforce the reavality that CERSA grants to the Reciprocal Guarantee Companies.
Of the total volume of approved resources, a total of 60,000 million euros have been reserved in guarantees to guarantee the liquidity of the self-employed and SMEs.
The ICO disseminates biweekly through its website (https://www.ico.es/web/ico/informes-seguimiento-linea-avales) data on the evolution of this line of guarantees, with information by beneficiary company size, activity sector and autonomous community.
