Ordi Global

Men often applaud an imitation and hiss the real thing.

The Government of La Rioja, through the ADER, and Iberaval will offer more advantageous loans wholefoodsmagazineonline.com/columns/vitamin-connection/getting-tax-assist-from-the-irs-when-you-cannot-pay-your-taxes-arrive-tax-day to companies, with direct financing to companies for investments and working capital, through the European Investment Bank.

Specifically, as indicated this morning by the President of the Riojan Government, Pedro Sanz, and the Iberaval Reciprocal Guarantee Society, José Rolando Álvarez, the companies will have 35 million euros, an amount left over from the 50 million that the EIB granted to the community for it.

In this case, Sanz has specified that more 1.25 points will be granted with a loan from Euribor, which will be offered directly from the ADER and will have Iberaval’s endorsement. Previously, Euribor was offered plus 3.75 points.

For this, and as indicated by Sanz will be published in the coming weeks a call for loans to be presented by companies that need funding. As a requirement, the company must provide, together with the loan application, the approval of a guarantee that, thanks to the collaboration it has with the Riojan Executive, Iberaval offers to grant.

The Riojan president recalled that, so far, the cooperation between the two institutions has allowed injecting 26 million euros to Rioja SMEs in a total of 428 loan operations, including financial guarantees and technical guarantees.

In his speech, the president of Rioja has stressed that the Government of La Rioja is aware of the importance of access to finance for companies. “That is why in 2008 we launched a package of financial support measures that we have been completing over the years, and now this new measure is added in. The objective is that financing is not an obstacle for companies that are in a position to invest can do it “.

So far, the tools to improve the financing of companies launched by the Government of La Rioja since 2008 have made possible an investment of 296 million euros through close to 1,500 operations.

In addition, the President of the Rioja Executive has indicated that “we are at a key moment, or change of economic cycle.” BBVA growth forecasts place us with increases in Rioja GDP of 2.9 percent for 2015 and 3, 2 percent for 2016. The number of projects (34.6 percent) and the investment presented (105 percent) to the fixed assets line of the ADER have also increased this past year. set the economic recovery with new policies that make us move towards a model that obtains greater added value and promotes the generation of employment “.

“In this context, this new financial measure, of a novel nature, is framed, which means that the ADER can grant loans directly to companies,” said Pedro Sanz, who thanked Iberaval for his collaboration, which is in addition to this initiative. through the granting of guarantees, a necessary requirement that companies must meet in order to be eligible for this financing that offers advantageous conditions to companies.

Advantageous conditions

Advantageous conditions working capital


This new measure will serve to finance, under advantageous conditions, two different lines of loans: business investment projects and operations for cash and business liquidity.

The interest rate on these loans will be Euribor plus 1.25%, which makes it a very attractive product for companies. The loan may be up to one hundred percent of the investment, the minimum amount will be 50,000 euros and the maximum of up to 2 million euros.

Also, the minimum term of the loan will be 2 years and may reach 5 in working capital and 12 when they are investment projects, explained Rolando Perez, who recalled that thanks to the endorsement of the Society “are maintained in La Rioja 2,500 jobs “.

The collaboration of the government of Rioja and iberaval.

Collaboration of the government of Rioja and iberaval.


The Government of La Rioja, through the ADER, participates in Iberaval as a protective partner, together with the Chamber of Commerce and Industry of La Rioja and the FER, with the objective of providing La Rioja companies with access to financing in the better conditions. In addition to the protection partners, Iberaval has participating partners, which are the SMEs and self-employed people of La Rioja who have obtained financing with Iberaval and who maintain their support for the entity.

So far, 428 operations have been formalized (273 financial guarantees and 155 technicians), which allow this reciprocal guarantee company to currently have a live risk of 14.6 million euros, 16 percent more than at the end of 2013

In 2014 alone, 144 dossiers were formalized for a value of 6.6 million euros, of which 69 were financial, amounting to 5 million euros, while the remaining 75 were technical, for 1.6 million euros.

Regarding the contribution to employment, the financial support of Iberaval, a company that continues to grow with double digits and has just absorbed Transvaal, a guarantor entity for the transport sector throughout Spain, has served to create or maintain more than 2,500 jobs in La Rioja.

In addition, 2014 served Iberaval -which is headquartered in Logroño, on Calle Hermanos Moroy, 1, but which provides service throughout the autonomous community- to surpass the 500 thousand members, which brings to more than a hundred the number of associates of annual average in its first five years of presence in La Rioja.

Among the benefits that Iberaval brings to the Rioja SMEs are: improving their negotiating capacity with financial institutions; lower the financial costs of companies; lengthen the terms of financing; facilitate access to public bidding through technical bonds; complement its lack of equity solvency against the financing market; receive advice and financial information and, in addition, for the entrepreneur, integration into a business network.