The European Investment Bank (EIB) has granted a EUR 500 million loan to Banco Sabadell to facilitate access to credit for SMEs, mainly in industry and services, through Banco Sabadell’s network in Spain. Under the agreement, Banco Sabadell will provide a further EUR 500 million, meaning that a total of EUR 1 billion will be made available to small and medium-sized businesses.
The loan agreement was signed by EIB Vice-President Román Escolano and Banco Sabadell’s CEO, Jaime Guardiola.
Román Escolano stressed that “the signing of this loan testifies to the EIB’s commitment to supporting SME investment, and this collaboration withBanco Sabadell will serve to strengthen smaller businesses’ access to our funding”.
SMEs and midcaps in a wide range of productive sectors will be able to access this funding on advantageous interest rate and maturity terms to finance both their investment projects and working capital. The individual loans will finance investments of up to EUR 25 million in the case of SMEs and EUR 50 million in the case of midcaps.
This is the third operation of this type with Banco Sabadell and is set in the framework of the EIB’s policy of supporting small and medium-sized businesses as the key to promoting economic recovery and job creation.
The European Investment Bank (EIB) and Banco Sabadell are joining forces to provide Spanish SMEs with the resources they need to finance their investments. The two institutions have signed several partnership agreements to enable small and medium-sized enterprises (SMEs) to access credit on the EIB's favourable conditions in terms of both interest rates and maturities. The total volume of these new EIB-Banco Sabadell credit lines stands at EUR 700m.
The EIB and Banco Sabadell will provide EUR 800m to Spanish SMEs with the aim of supporting their investments and promoting the development of new projects, particularly in the services and industrial sectors. To this end, the EIB will grant a EUR 400m loan to Banco Sabadell, to which the Spanish bank will add an additional EUR 400m of its own. This means that the institutions will together provide EUR 800m to Spanish SMEs.
The European Investment Bank (EIB) has granted a EUR 250 million loan to Banco de Sabadell to facilitate access to finance for SMEs and midcaps. The EIB funds will mainly be used to fund investments in a wide range of productive sectors and will have a positive impact on economic activity and employment.