(1) – is the subject of this order establish a programme aid for SME non-listed sector agriculture, forestry, fisheries, food and rural development, for the financing of initial investments and continuity (program Sendotu), articulating them within the framework of funding through loans granted by the Basque Institute of finance in partnership with financial institutions for the year 2015 and 2016 , which constitute the support of subsidies:
2) – in particular help lines that arise are the following:
- to) a line of aid for the financing of risk, through provision of guarantees, aimed at SMEs unlisted sectors agriculture, forestry, fisheries, food and rural development, for the financing of initial investments and continuity, that has a guarantee fund to cover failed financial:
(b) a bonus of types to reduce the financial cost charged to the Department of economic development and competitiveness in the area of the line of financing to unlisted SMEs in the sectors of agriculture, forestry, fisheries, food and rural development, for the financing of initial investments and continuity (program Sendotu).
Aid for the financing of risk, through provision of guarantees: limit on loan for the financing of 80% of the investment made.
Interest rate: it will be variable and will be applied the following references
-Euribor to one year plus 1.75% for loans to 7-year term.
-One year Euribor plus 2% for loans to 10-year term.
The revision of the interest will be carried out annually. Interests vest daily on the main live of the loan and cleared by natural quarters.
Term: it will be from 7 to 10 years, with two optional years of lack.
As a general rule, the repayment of the loans will be held every six months, through fees, payable after a maximum of two years of lack.
Foreign financing: financing of the initial investments or continuance made under this Convention shall not exceed 80% of the investment made. Require, therefore, a contribution from the applicant’s own funds of at least 20% of the total investment, excluding the funding associated with this agreement. The evaluation and Monitoring Committee may modify the amount of own funds required.
Early repayment: the borrower may make deliveries in advance on account of the capital borrowed, for a minimum amount of 10% of the principal.
WARRANTIES: will be the Basque Institute of finance the only entity that can seek and obtain assurances of the applicant, or where appropriate, related natural or legal persons.
Reducing financial costs: the amount of the bonus in their interest rates by reducing its financial cost may reach a maximum of 1% of the applicable interest in lending operations formalised in the scope of the cooperation agreement.
Date of application:
1st line: until October 31, 2015.
2nd line: until all budget.