CaixaBank and Barcelona's Chamber of Commerce to offer €3 billion in loans for member companies
In a situation of difficult access to credit by Catalan and Spanish companies, Barcelona’s Chamber of Commerce and the main Spanish bank – which is based in the Catalan capital – have agreed to open a new credit line for the 25,000 private companies (small, medium-sized and large) and independent workers affiliated to the Chamber’s ‘Club Cambra’. In January 2012 they created the first credit fund with €2 billion. Now, a total of €3 billion will be available, of which €1 billion will be for internationalisation projects. CaixaBank’s President, Isidre Fainé, and the President of the Chamber, Miquel Valls, signed the new agreement on Wednesday.
Barcelona (ACN).- In a situation of difficult access to credit by Catalan and Spanish companies, Barcelona\u2019s Chamber of Commerce and the main Spanish bank \u2013 which is based in the Catalan capital \u2013 have agreed to open a new credit line for private companies and independent workers affiliated to the Chamber. In January 2012 they created the first fund with \u20AC2 billion. Now, a total of \u20AC3 billion have been put at the members\u2019 disposal, of which \u20AC1 billion will be for internationalisation projects. CaixaBank\u2019s President, Isidre Fainé, and the President of the Chamber, Miquel Valls, signed the new agreement on Wednesday. The small, medium-sized and large companies, as well as independent workers, who are members of the so-called \u2018Club Cambra\u2019 of the Chamber will have access to this new credit line.
The new fund is a continuation of the credit line opened in January 2012, which had \u20AC2 billion in funds and was empty by October. Back then, 2,447 enterprises, most of them micro- and small companies, obtained a loan, according to a press note jointly released by CaixaBank and Barcelona\u2019s Chamber of Commerce on Wednesday.
Regarding the former credit fund, 60% of the operations involved an amount below \u20AC100,000. In addition, 54% of the operations were with new CaixaBank clients. Considering the type of operation;, 29% were credits, 34% risk lines, 16% loans, 9% renting operations and 3% guarantees.
At Wednesday\u2019s signing, CaixaBank\u2019s President, Isidre Fainé stated that \u201Cthe push for exporting will be essential for recovering from the economic crisis\u201D. Therefore, according to him, \u201Cbrave\u201D companies are needed, \u201Cwith innovation and anticipation capacities, which should be able to look for and benefit from the opportunities the current situation offers\u201D.
Besides having enlarged the previous amount of the fund by 50%, with the new agreement \u2018la Caixa\u2019 \u2013 which owns CaixaBank \u2013 will become an honorary institutional member of Barcelona\u2019s Chamber of Commerce. This means that the 25,000 members of the Chamber\u2019s \u2018Club Cambra\u2019 should have easier access to obtain funds to finance their business projects. The \u2018Club Cambra\u2019 is the business platform of Barcelona\u2019s Chamber, which has been joined by companies from the other eight chambers of commerce which already exist in Catalonia.