Bankinter extends the agreement signed with AfínSGR to increase the line of aid to businesses affected by the floods in Valencia
The agreement adds 13 million euros to the facility already approved by the mutual guarantee society AfínSGR and Bankinter together with other entities, bringing the total maximum to 35 million.
SMEs will be able to access the “DANA 0% Loan” as emergency aid to finance investments or obtain working capital.
Bankinter signs an agreement with the Valencian mutual guarantee society AfínSGR to extend the line of subsidies approved by the regional government for SMEs affected by the floods. The agreement was signed by Oriol Cañameras, director of the Territorial Organisation in the Valencian Community, Murcia and the Balearic Islands and José María Badia, general director of AfínSGR.
The initial sum agreed for the “ DANA 0% Loan” amounted to 22 million euros but it has now been raised to 35 million, expanding its capacity to reach more projects. The aid is aimed at small enterprises whose business centres, facilities or assets suffered damage in the tragic floods that swept through various municipalities in the province of Valencia.
Financing is granted on advantageous terms, guaranteed by the mutual guarantee society, and must be use for investment projects or working capital related to applicants' business activity.
The agreement enables the Bank to support the most important of the business fabric, namely SMEs, which have less capacity for recovery than larger enterprises.
Bankinter has a long history of supporting the business community, having been founded as an industrial bank 60 years ago, and Large-corporate Banking continues to be one of its key lines of activity. Bankinter increased its financing portfolio for Spanish companies by 7% in 2024, reaching 31 billion euros.