Unicaja Banco and Sociedad Anónima Estatal de Caución Agraria (SAECA) have entered into a collaboration agreement with the aim of facilitating access to finance, on advantageous term, for the whole primary industry (agriculture, livestock, fishing and forestry).
The agreement seeks to facilitate any transaction aimed at the creation, conservation or improvement of forestry, agricultural, livestock or fishing resources and materialized in agri-food industry, enhancement or implementation of irrigation, purchase of land or machinery, agricultural and livestock constructions, acquisition or improvement of rural housing, working capital and any other issue related to the primary sector.
The agreement, signed by Unicaja Banco’s Area Manager for Agriculture, Francisco José Vilches, and by the Chairman of SAECA, Pablo Pombo, falls within the collaboration provided by the bank to the primary industry, and within its interest in facilitating the economic development of the areas where it operates.
Conditions
SAECA will provide the guarantees and bail bonds that may be needed for the loans granted by Unicaja Banco to the primary sector, on preferential financing terms and with a general repayment period of up to 15 years.
The agreement sets that the maximum amounts will be €250,000 for natural persons and up to €400,000 for legal persons. In addition, it will allow applicants to access financing for their farms under better financial conditions, without having to mortgage their assets and with a long loan repayment period, which will be free of early repayment or cancellation fees.
It also includes the commitment of both entities to advance in the study and rollout of the signing of transactions by any valid digital means, in order to speed up and make the formalization process more efficient and reach the sustainable objective of 'zero paper' emission.
SAECA, under the remit of the Ministry of Agriculture, Fishing and Food, is a company part of Grupo SEPI, a state-owned industrial holding company which includes 15 companies in which there is a direct and majority participation, with a workforce of more than 78,000 employees. It also has got a foundation and direct minority shareholdings in a further 9 companies, and indirect ones in more than one hundred.
