Portal de San Javier
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The Minister of Finance and Public Administration, Andrés Carrillo today visited San Javier, where accompanied by the mayor, José Miguel Luengo, Councillor of Finance, Carlos Albaladejo and director of the Institute of Credit and Finance of the Region of Murcia (ICREF) Pilar Valero, met with entrepreneurs of the municipality to inform them about the advantages of new loans for business investment launched by the Murcian Government finances 50% of the total applied to the bank.
Andrés Carrillo explained that the Region of Murcia signed the regionalized line of financing Official Credit Institute, ICO, 50 million for investments in the Region of Murcia "although the Murcian government went a step further" by signing an agreement with seven banks for 50 percent endorse the operation, "so that any funded by this credit line operation has the backing of the regional administration for half the amount requested."
The Minister of Finance and Public Administration added that "this is a mechanism that allows us to reach those who have more difficulties financing possibilities" as it is designed for those cases where the company can not itself endorse its operation.
This type of operation, for loans arranged under the program of financing the European Investment Bank to the ICO for companies, are aimed at firms whose investments or ownership are in the region.
The average operation is estimated at 70,000 euros credit for seven years and an interest around 232.3 percent, but can reach up to 1.5 million euros and a term of up to 10 years.
That credit line, which currently has 50 million could be expanded if it runs out before the end of 2017.
Andrés Carrillo stressed that the Autonomous Community of the Region of Murcia is the first and only in Spain that has expanded this line of loans through the support of the administration.
"The Murcian government is taking all measures to encourage investment and create jobs, and this is one of them."
The mayor of San Javier, José Miguel Luengo thanked "the effort in economic and investment promotion Murcian Government is making" and welcomed the visit of the counselor, who previously held a meeting in which local issues were addressed, "to make known to our rich business fabric that such measures are helpful."
Luengo also recalled that the City Council is taking steps to support the business sector and promote entrepreneurship, contained in the Tourism Revitalization Plan to be presented shortly.
Source: Ayuntamiento de San Javier
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