The Galician regional government is activating loans of up to one million euros for companies affected by US tariffs.

 

The modification of the bases that regulate this financial instrument was published in the Official Gazette of Galicia (DOG)This measure is part of a broader corporate financing package, with a global budget of 50 million euros, designed to provide liquidity and operating margin to Galician companies with a strong exposure to the American marketThe goal is to facilitate their adaptation and the search for alternative markets.

 

The new loan option allows for financing working capital with a repayment term of up to twelve years, including a grace period of up to four years, twice the usual amount.

 

With this action, Galicia seeks to protect the competitive capacity of its productive fabric against international challengesThis line will help maintain export activity and employment, especially in key sectors such as agri-food, the naval industry, biotechnology, and construction materials.

 

These loans will be available to companies with their work centers primarily located in Galicia that can demonstrate, during 2024, commercial transactions with the United States for amounts equal to or greater than €100.000, or whose transactions exceed 10% of their total sales. The loan amount granted may be up to the total volume of exports and/or imports with the United States for that year.

 

The measure is part of a broader package of actions that includes international advice, a technical office and new consulting services to facilitate market diversification.

 

Set of Complementary Measures

 

This financial instrument is complemented by other actions promoted by the Xunta to support the Capabilities. Among them, a new consulting service specialized in market opening within the Reacciona program and the launch of a technical support office dependent on the Economic Office of Galicia, in collaboration with the Igape antenna in MiamiThis office offers personalized attention, ongoing monitoring, and technical advice tailored to the affected companies.

 

The Xunta maintains constant dialogue with the sectors most exposed to the new tariff policy through sectoral meetings, which allows it to identify their needs and design effective responses.

 

With this new line of financing and the set of measures implemented, the Xunta de Galicia reaffirms its commitment to defending the Galician business community in the face of the challenges of international trade and to consolidating the foreign presence of Galician companies.