The EIF and Banco Santander have signed a guarantee and financing agreement under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative, allowing the bank to provide up to EUR 15.7 million of new loans to Spanish small and medium-sized enterprises as well as self-employed.
According to the agreement, which is the first of its kind in Spain, Banco Santander will be able to offer loans to companies, particularly to SMEs as well as self-employed, at better terms and applying lower collateral requirements thanks to the JEREMIE guarantee. This is due to the fact that the JEREMIE initiative will apply a zero interest loan on the co‑financing provided to Banco Santander, whilst demanding no collateral to the underlying beneficiary SMEs. Such loans will be available until the end of 2015 and they can have a maturity of up to 10 years.
We use cookies to give the best browser experience on our website. or change cookie settings.
Copyright ©
European Investment Fund – The European Investment Fund is not responsible for the content of external internet sites.