Unicaja Banco and the Municipal Institute for Training and Employment (Instituto Municipal para la Formación y el Emplo, IMFE), dependent on Malaga City Council, have renewed the collaboration agreement they have had over the last 15 years to offer funding on advantageous terms, to start up, consolidate or expand micro-businesses, entrepreneur businesses and self-employment projects.
The agreement between Unicaja Banco and IMFE aims at contributing to mitigate the impact of the situation caused by the COVID-19 and to reactivate the economy. It has been signed by the Regional Manager of Unicaja Banco in Malaga, Agustín Sánchez, and by the Councillor for Employment Promotion of Malaga City Council, Luis Verde.
The goal of this agreement is to contribute to the development of actions aimed at fostering the business fabric, facilitating the economic boost and supporting self-employment in Malaga. In fact, the collaboration since 2004 between Unicaja Banco and IMFE has resulted in financing to 250 projects and in the creation of almost 450 jobs.
For that purpose, Unicaja Banco offers small credits on advantageous terms to business owners, entrepreneurs or professionals with a feasible business initiative. In particular, they will have an amount of up to 25,000 euros to finance up to 90% of the presented project.
The products and services in the agreement to finance established businesses include credit accounts for working capital in general and exclusive accounts to pay salaries and social contributions, loans to pay of taxes in instalments (VAT, Companies Tax and Withholdings, etc.) and official financing facilities.
The IMFE, through its Business Unit, will help the beneficiaries by providing them with the support and business advice services needed for the proper development of the project and by analysing whether it is viable and if access to this funding is possible. This viability plan with favourable report from the municipal organization will be an essential requirement.
Support of Unicaja Banco to entrepreneurs
Unicaja Banco support to entrepreneurs and businesses falls within its activity as socially committed financial institution and within its support to the economic boost in Andalusia, with special interest in Malaga province.
This support to entrepreneurs, professionals and business owners is thus reflected in different actions such as the signature of agreements with public institutions and business associations, the creation of microcredit facilities to foster new self-employment and microbusiness projects or the support to several tech parks through funding programmes.
IMFE’s ‘Financiare’ Program
This action is part of Malaga City Council’s permanent effort to offer initiatives that contribute to employment promotion and to assist entrepreneurs and self-employed workers for their business development and consolidation. In particular, it falls within the ‘Financiare’ programme, conceived to put at the disposal of Malaga businesses those banking services that may be useful for the day-to-day of their business activity, as well as additional advantages for entrepreneurs and businesses which present projects with a favourable viability report from IMFE.
The IMFE, dependent on Malaga City Council, is a body offering information and advice on employment and self-employment promotion. Through its Business Unit, it acts as centre of reference to boost, support and provide guidance to entrepreneurs who decide to start a business project, being responsible for channelling the different microcredits.