Release date: 16 September 2019
Promoter – Financial Intermediary
SANTANDER CONSUMER FINANCE SALocation
Description
The project consists of a dedicated loan to a well-known counterpart to benefit small and medium sized enterprises (SMEs) and Midcaps (up to 3,000 employees) mainly based in Spain.
Objectives
The aim is to enhance access to finance to SMEs and Midcaps through loans and leases. At least 70% of the total EIB loan amount will be used for SMEs, while up to 30% could be used to finance small and medium-sized investment projects carried out by Midcaps in eligible sectors. The loan will include the obligation of the intermediary to finance SMEs for at least twice the amount of the EIB loan. It is foreseen that about 40% of the funds will be extended in cohesion regions in Spain (twice the usual percentage in Spain, due to SCF's large presence in Andalusia and Murcia).
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 99 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 14/10/2019
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).