Unicaja Banco, within the framework of the renewal of its agreement with the Andalusian Confederation of Business Owners (CEA, Confederación de Empresarios de Andalucía), has set up again a funding line for €1 billion to support the business sector in Andalusia and to strengthen the liquidity of companies to face the economic effects caused by the coronavirus. The new agreement has been signed by the Chairman of Unicaja Banco, Manuel Azuaga, and by the Chairman of CEA, Javier González de Lara.
Under the agreement, the bank puts at the disposal of the more than 180,000 freelancers and businesses member of CEA a full range of specific financial products and services, under advantageous conditions, aimed to facilitate their activities and to make investments. Especially remarkable are the new products to meet the main demands of companies to face the current situation and conceived to reinforce liquidity, such as the specific COVID-19 financing lines with guarantees from ICO, Garántia and IDEA and CESCE for companies with international activity, as well as to facilitate investments, mainly in digital transformation and R+D+I and the deferral of recurring payments.
This new collaboration agreement -signed by the Chairs of both institutions- reinforces the long-term existing relationship between the two institutions, for more than 20 years. This agreement is especially relevant in the current situation, due to the effects derived from the impact of the COVID-19 in the economy, and joins the measures implemented by Unicaja Banco for businesses and families to mitigate them.
The renewal of the agreement falls within Unicaja Banco’s general interest in contributing to the development of actions aimed to promote the activity of the business fabric and to facilitate the economic boost in Andalusia, especially in the current situation caused by the COVID-19.
Businesses in general and SMEs in particular continue to be one of the key groups in Unicaja Banco’s funding policy, especially in Andalusia. Therefore, one of the bank’s priority commercial axes is providing funding to businesses, which are a key driver to make the economy more dynamic and to stimulate job creation.
Products and services under advantageous conditions
The collaboration includes specific financial products and services under advantageous conditions, such as:
- Working capital and payment deferral products: Unicaja Payment Credit, Professional Credit Account and Fracciona Loan to defer corporate payments such as taxes and professional fees, as well as Unicaja Confirming.
- COVID-19 Liquidity Lines for businesses, with guarantees from the ICO (approved by the Government), from the Sociedad de Avales y Garantías de Andalucía, Garántia (approved by the Andalusian Governement), Agencia IDEA (also promoted by the regional government), and from CESCE (credit and suretyship insurance) for companies with international activity.
- Financing transactions, especially technology and R+D+i: via the ICO 2020 financing lines to support entrepreneurs, businesses and freelancers, project financing under the agreement with the European Investment Bank (EIB), guarantees to access financing provided by Garántia, real estate and equipment leasing and investment in assets via renting. Also, First Company Loan to promote self-employment through feasible initiatives, Self-Employment Promotion Loan and Micro-company Promotion Loan (micro-credits).
- Deposit Products: with special products such as Fee-Free Plan for Professional Firms, the Fee-Free Plan for Professional Freelancers, as well as treasury management for freelancers and businesses through accounts, mutual funds or private banking.
- Other Products and Services for companies: management of subsidies and official credits, payment methods, payment of taxes, real estate, etc.
- International Transactions: foreign trade, financing, currencies and services.
- Digital Banking: Unicaja Banco mobile app and web, as well as mobile apps to send payments such as Unipay Bizum, mobility solutions and management services.
- Insurances and Pension Plans, with wide coverage and benefits.