Guarantee societies, the Cajamar Cooperative Group and the Ministry of Economy improve their conditions to bring financing to more than 3.000 Spanish companies

Based on an agreement signed in Madrid

The SGRs and the 19 rural banks of the Cajamar Cooperative Group plan to provide 200 million euros to SMEs, especially in the agri-food sector, for their development and internationalization.

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19 guarantee companies, represented by the Spanish Confederation SGR-CESGAR; the Ministry of Economy, Industry and Competitiveness –through the Spanish Reinsurance Company (CERSA)- and the Cooperative Group CajamarThey will bring financing to more than 3.000 companies, based on the agreement signed in Madrid, which will allow the granting of loans on better conditions, with a line of 200 million euros.

 

The following participated in the signing of the agreement: Director of Corporate Banking at BCC-Grupo Cajamar, Ricardo García Lorenzo, the president of the group of guarantee societies, José Rolando Álvarez Valbuena, and the CEO of the Spanish Reinsurance Company (CERSA), Ana Vizcaíno.

 

In the words of the president of SGR-CESGAR, José Rolando ÁlvarezThis agreement should serve to "help with our so that cooperatives become larger and have the capacity to finance and retain their production, thereby improving their prices and capturing greater value from what they produce."

 

In this regard, he recalled the importance of the agri-food industry and the primary sector for rural Spain and argued that guarantee societies constitute the "instrument of financial support "More clearly for cooperatives in our country." At this point, he noted that "if the national guarantee system is important anywhere, it is in the Spanish countryside and primary sector."

 

For his part, the director of Corporate Banking at BCC-Grupo Cajamar, Ricardo García, has considered that "this agreement is another step towards continuing to support the Spanish SMEs, especially in the agri-food sector, for the development of their businesses and the marketing of their products and services in international markets, through comprehensive value-added solutions and products tailored to their needs, accompanying them in all processes and new challenges."

 

 

 

This agreement focuses on an area of ​​growing importance in the economy, namely exports or operations abroad, based on international financing.

 

 

 

The agreement will allow clients of both entities to access—based on the guarantee provided by the guarantee societies—specific financial services such as credit lines, loans, financial leasing, factoring and confirming, advances on public subsidies, and commercial discounting. Likewise, this agreement impacts an area of ​​growing importance in the economy, namely... exports u operations abroad, through international financing, using products such as export advances, import financing, international guarantees or import documentary credits, among others.

 

It will also strengthen the existing collaboration between the 19 rural savings banks of Cooperative Group Cajamar and the 19 guarantee societies that operate in Spain, with the purpose of strengthening the business fabric and providing greater facilities for its internationalization.

 

Boost from the Ministry of Economy

 

El Ministry of Economy, Industry and Competitiveness, through the Spanish Rebonding Company (CERSA), It supports the activity of mutual guarantee societies through reinsurance. CERSA It is fundamental to the guarantee system in the country, since it covers a very significant part of the risk assumed by SMEs, the self-employed and entrepreneurs in each guarantee.

 

CERSA It has annual contributions charged to the budgets of Ministry of Economy, Industry and CompetitivenessThe state-owned company also has the backing of European Investment Fund (EIF). SGRs maximize the efficiency of public contributions for the promotion of companies, due to the multiplier effect linked to their activity.