MINCOTUR makes loan repayment instalments more flexible
Loans granted by the General Secretariat for Industry and Small and Medium-sized Enterprises
At IMPULSO we are pleased to inform you that the DGPYME (MINCOTUR) has enabled the option to make repayment of instalments on loans granted by the General Secretariat for Industry and Small and Medium-sized Enterprises more flexible.
What does the measure involve?
It involves changes to the loan amortisation schedule for industrial projects granted by the SGIPYME.
Which SGIPYME programmes does this measure affect?
- Reindustrialisation.
- Competitiveness of Strategic Industrial Sectors.
- Competitiveness of the Automotive Sector.
- Competitiveness of the Aeronautics Sector.
- Reindustrialisation and Promotion of Industrial Competitiveness.
- Connected Industry 4.0.
- R&D&I in the field of the manufacturing industry.
What do the changes to the amortisation schedule involve?
They may consist of one of the following alternatives:
- Extension of the maximum repayment term.
- Extension of the maximum grace period, provided that no principal instalment has yet fallen due.
- Other changes granted in such a way that the same maximum levels of aid intensity and the same levels of risk as at the time of granting are respected.
In which cases can it be requested?
Refinancing may be requested when the health crisis caused by COVID-19 has led to periods of inactivity for the beneficiary, a reduction in sales volume, or supply disruptions in the value chain.
What are the deadlines for this measure?
Refinancing of the loans may be requested for two and a half years from 14 March 2020, i.e. until 14 September 2022.
How should it be requested?
The application must be submitted through your own file in the electronic register, accompanied by:
- A supporting statement setting out, with due justification, the difficulty in meeting payment of the next due instalment in accordance with the provisions of the previous section. This justification must include an image of the accounts immediately before the situation occurred, a qualitative and quantitative explanation of how this impact arose, its economic and financial assessment, as well as an action plan to mitigate those effects.
- If the investment implementation period has not ended, a technical and economic report justifying the investments made charged to the loan up to that point, broken down by item, must also be included.
2020-10-12
