The Plan Confianza de Avalmadrid is aimed at both SMEs and the self-employed. It consists of a set of lines to provide financing to entrepreneurs in the Community of Madrid. With a total budget of 300,000,000€, it aims to alleviate the consequences of the crisis resulting from the Covid-19.
Plan Confianza de Avalmadrid
It consists of three lines of action:
Línea a tu Lado Avalmadrid
Designed for current members and proposes three actions:
- Possibility of exemption from their operations with monthly fees
- Renewal of lines expiring in these months
- Possibility of new financing operations with the additional lines
- Budget of 50,000,000€
Who is it aimed at?
- Self-employed, SMEs and current AVM partners with operations with live risk that have been affected by the Covid-19 crisis (business closure or fall in activity)
- Objective: To provide sufficient time or liquidity to enable them to overcome the crisis and maintain activity and employment
Characteristics / Requirements
- Loans and Leasing: Possibility of offering shortfalls (negotiation with Financial Institution) or proposing new liquidity operations.
- Credit policies or Factoring: With maturity in these months. General approach to renewal (negotiation with financial institution)
- Application and declaration of responsibility for the effects of Coronavirus, in which you commit yourself to maintaining activity and employment (generally 60%) when the alarm period ends.
- Conditions: Not to be in a situation of default, contest or pre-competition, nor to have pending quotas in operations guaranteed by AVM.
- Documentation: Request from AVM with a responsible statement justifying the impact of the crisis (business closure, significant drop in sales: 25%) and the maintenance of activity and regular documentation.
Línea Madrid Liquidez Express
For new operations, for customers and non-customers. Quick to manage and compatible with what they have requested from the state ICO.
- The aim is to provide rapid liquidity to cover overheads, up to 50,000€.
- With an available budget of 150,000,000€ in total
Who is it aimed at?
- SMEs and self-employed workers in the Community of Madrid who have been directly or indirectly affected by the COVID-19 health emergency, due to business closure or a significant drop in activity (25%)
- Objective: to finance overheads generated during the crisis, so that they can maintain their activity and employment when the alarm period ends
Characteristics / Requirements
- Guarantees for Expedited Loans up to 50,000€, in pre-approved operations.
- AVM will guarantee 100% of each loan.
- Term: 6+24 (6 month grace period).
- Conditions: Not to be in a situation of default, bankruptcy or pre-competition, nor to have alerts in CIRBE and external files.
- Documentation: Application for AVM with a responsible statement justifying the impact of the crisis (business closure, significant drop in sales, 25%) and maintenance of activity.
- Financial statements closed at the end of 2019 (with profits).
- Social participations (2%) and formalization expenses may be included in the loan
Línea Vitamina
For customers and non-customers and all other new operations in the medium and long term. With an assigned budget of 100,000,000€
It includes two types of operations:
- Financing, loans up to 4 years with a grace period
- Of working capital, credit policies from 1 to 3 years, and factoring.
Who is it aimed at?
- All Self-Employed Individuals and SMEs for all financing operations (of a greater amount and term than the Madrid Liquidez Expres facility).
- Objective: To provide sufficient liquidity
Characteristics / Requirements
- Both investment and working capital: Loans, Leasing, Credit Policies and Factoring up to 1.000.000€
- Term: To be negotiated. In general 4/5 years (with the first year as a grace period)
- Conditions: Not to be in a situation of default, contest or pre-competition, nor to have alerts in CIRBE and external files.
- Documentation: Request for AVM with responsible declaration of the impact of the crisis (business closure, significant drop in sales, 25%) and maintenance of activity.
- Usual documentation in these operations (financial and legal)
- Company shares (2%) and formalisation costs may be included in the loan
In all operations, Aval Madrid would guarantee 100%.
PLAN CONFIANZA AVALMADRID 16 ABR EEFF
In Arrabe Integra, we have both the financial consulting service and support in applying for these new lines of financial aid. Aid that can be complemented with those that are already in management through their banking entities by lines guaranteed through the ICO.
Therefore, for any need, do not hesitate to contact us.
Arrabe Integra
Business Consultants