EIB and DLL provide EUR 200m to finance investments of small and medium-sized Spanish businesses
The European Investment Bank (EIB) has granted a EUR 100 million loan to DLL, a global vendor finance company and wholly owned subsidiary of Rabobank. Under the agreement, DLL will provide a further EUR 100 million, meaning that a total of EUR 200 million will ultimately be made available to Spain's SMEs and mid-caps. The agreement was signed in Madrid by EIB Vice-President Román Escolano and DLL’s General Manager for Spain and Portugal, Álvaro Zafra.
This EIB loan will serve to strengthen DLL's leasing operations designed to finance the investments of small and medium-sized businesses, especially in the farming, agri-food and construction sectors. The companies accessing this credit line will be able to receive a loan with competitive maturity and interest rate terms. The agreement provides for up to 100% coverage of the cost of projects worth a maximum of EUR 25 million, with loans of up to EUR 12.5 million.
At the signing ceremony in Madrid, EIB Vice-President Román Escolano said: “Supporting SMEs is one of the EIB’s top priorities. We are therefore delighted to be signing an agreement to provide funding to small and medium-sized Spanish businesses, especially those operating in the farming and agri-food sectors. Thanks to this loan, SMEs and mid-caps will be able to access new credit lines for financing the necessary investment to continue growing their business and thus create jobs”.
DLL’s General Manager for Spain and Portugal, Álvaro Zafra, added that “since its arrival in Spain more than 20 years ago, DLL has always placed its faith in the variety of Spain’s business fabric. With this agreement with the EIB, we are continuing in our mission of financing our customers’ assets and fostering their growth and development”.