Bankinter and the EIB sign an agreement for 700 million euros to finance SMEs and Mid Caps

Bankinter and the European Investment Bank (EIB) have signed an agreement for the financing of investment and working capital projects undertaken by SMEs and Mid cap companies (with a maximum of 3,000 employees) in Spain and Portugal. The agreement is for the amount of 350 million euros, although Bankinter will supplement the EIB financing with an additional 350 million euros. Thus, the total volume of financing for SMEs and Mid cap companies reaches 700 million euros.

This is the first time that 50 million euros of the credit line will be initially allocated to financing projects for SMEs and Mid caps in Portugal.

The loan contract was signed in Madrid by the Vice-President of the EIB, Román Escolano and the Managing Director of Bankinter, María Dolores Dancausa.

This credit facility, which offers these companies finance under interesting conditions, with low interest rates and long terms, will support investment projects of up to 25 million euros in the case of SMEs and up to 50 million euros in the case of Mid cap companies.

The last credit line signed by the EIB and Bankinter in favour of SMEs, for a total amount of 400 million euros, was signed on 21 May 2015.

With this new agreement, Bankinter shows its commitment to the financial development of small and medium-sized enterprises. These agreements provide financing to this type of company, and contribute resources in favourable conditions, with longer repayment terms, flexible repayment schemes and reduced interest rates.

Bankinter considers companies to be one of its strategic sectors. According to data at the close of 2015, Bankinter's net credit portfolio in business sectors had increased by 5.6% with respect to the previous year, reaching an investment volume of 19,700 million euros.