Costa Blanca Offers Subsidised Loans to Struggling Businesses

CREDIT: Generalitat Twitter

COSTA Blanca offers 30 per cent subsidised loans for struggling businesses
The Generalitat of Valencia has announced the availability of loans for struggling businesses in Spain’s Costa Blanca subsidised up to 30 per cent from Thursday, January 21. The regional government has made available €50 million in aid, meaning that a €30,000 loan will only cost €21,000, the remainder being covered by the state.
According to the Valencian Institute of Finance (IVF), loans of between €15,000 and €750,000 will be made available to those hardest hit by the coronavirus pandemic, such as the hospitality industry, sport and leisure and travel agents.
The President of Valencia, Ximo Puig , held a meeting on Wednesday morning, January 20, with the Minister of Finance, Vicent Soler, the Regional Secretary for Tourism, Francesc Colomer and the director of the Valencian Institute of Finance, Manuel Illueca, to begin rolling out the aid; it is the largest aid effort for the hospitality and leisure sectors that any autonomous government has made.
According to the Executive, “the Generalitat Valenciana provides in a single administrative procedure the liquidity that our companies need, and at the same time an aid to compensate them for the sanitary restrictions approved by the government.”
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Written by

Sarah Keane

Former teacher and health services manager with a Degree in English, Sarah moved to Spain from Southern Ireland with her husband, who runs his own car rental business, in 2019. She is now enjoying a completely different pace and quality of life on the Costa Blanca South, with wonderful Spanish and expat friends in Cabo Roig. Sarah began working with Euro Weekly News in 2020 and loves nothing more than bringing all the latest national and international news to her local community.

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