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Murcia is the first autonomy launches a loan guarantee program with the ICO.

The Credit and Finance Institute of the Region guarantees granted within 24 hours and will guarantee 50 percent of the investments that have an impact on employment

The Minister of Finance and Public Administration, Andrés Carrillo, today encouraged employers Sewer to make new investments that will improve the productivity of their businesses through loans guaranteed by the Institute of Credit and Finance of the Region of Murcia (ICREF ).

Early in the morning he met with the mayor, Joaquín Buendía, at City Hall and know in detail the issues of our municipality with this Ministry, as well as visiting various municipal offices, some of them directly related to it.

Carrillo, accompanied by the mayor of Sewell, Joaquin Buendia, said in a meeting with entrepreneurs in our town, at the headquarters of the Association of Industrial Estate "West" of the agreement with financial institutions to grant 50 million euros in loans, and they said "this is a mechanism that allows us to reach those most funding difficulties, lack of guarantees, and the Community supports these credits to create new jobs".

The Community endorse loans for companies and freelancers whose investments improve productivity.

It is "a mechanism that will provide a boost to reach those most funding difficulties, lack of guarantees," said the Minister of Finance and Public Administration, Andrés Carrillo, after the signing of the agreement between the Institute of Credit and Finance of the Region of Murcia (ICREF) and financial institutions.

The agreement provides that financial institutions granted 50 million euros in loans, "which will promote employment in the region," said the counselor.

In this sense, Andrés Carrillo reiterated that "the action of the regional government always turns on the creation of jobs".

Thus, provided data as new 2,800 companies that were born last year, which places the region of Murcia as the fourth growing community of business enterprises, as well as increased two percent in the number of self-employed in recent years .

In this regard, he pointed out that these figures "are cause for optimism."

Credit operations will be backed by 50 percent by ICREF for loans arranged under the program ICO EIB financing for businesses with regionalization criteria, that is, whose investments or ownership are in the region.

Carrillo said the companies that need it "will not have to provide any collateral for the mortgage collateral" and shall be issued in less than 24 hours, which "consolidates the Community as a more agile and efficient administration".

These guarantees, which are granted through ICREF are designed for business to take sufficient guarantees investments that bind them to become more productive, invest in human capital, develop research projects and innovation, improve their processes to be more sustainable and cope with international competition that allows them to increase their exports.

Currently, 4,400 murcianas companies sell their products abroad, exports have tripled in the region in the last five years, and Murcia is the fifth largest exporting province in the country.

In this regard, the Minister said that "generate a positive balance after more than 25 years, all thanks to the vocation of entrepreneurship and support programs for the internationalization of the regional government."

Loans that are included in this line of guarantees of ICREF may be up to a maximum of 1.5 million euros and for a period of up to 10 years.

However, the average transaction is estimated at 70,000 euros credit for seven years and an interest around 3.3 percent.

Also, this credit line of 50 million euros may be extended in the event that was consumed before the end of 2017.

Both the mayor of Sewell, Joaquín Buendía, the presidents of ASEPIO (Association of the Industrial Park West), Antonio Castillo and ENDECO (Conservation Authority), Francisco Cabrera, thanked the Councillor to present this new government initiative regional to help small and medium enterprises for investment and job creation, which it held in the largest industrial concentration in our region and to do so being the first official visit Andrés Carrillo performed to Sewer since its inauguration as Minister of the Treasury and Public Administration.

Source: Ayuntamiento de Alcantarilla