COVID-19: The deadline for applying for CESCE grants has been extended
Posted: Sat Dec 21, 2024 3:37 am
We tell you what CESCE aid is, why it has been launched and how it will help companies to get out of the crisis.
Funcas estimates that 35% of Spanish companies had operating losses in 2020.
Two lines of aid have been launched to provide coverage for companies that are internationalised.
Economic recovery is a priority in 2021. Both SMEs and large companies have been affected by the situation caused by COVID -19 . After having to close their businesses and pause their activity, entrepreneurs fiji email list are looking for ways to recover from the pandemic . That is why aid such as the CESCE Covid-19 line is more important than ever.
It is worth noting that according to a report published by Funcas, 35% of Spanish companies had operating losses in 2020. This means that their income did not cover operating expenses, not even including the payment of debt or taxes. Funcas warns that this has led to the closure of thousands of companies and a financial weakening of those that are still open.
What are CESCE grants?
The CESCE Covid-19 line will help companies that are internationalized and facing financial difficulties. The line has been created to provide coverage for working capital credits on behalf of the State. Companies that are abroad and facing financial difficulties will be able to benefit from it until December 31.
This line of aid for the pandemic was initially approved in March 2020, in the midst of the lockdown. It was launched thanks to Royal Decree-Law 8/2020 on extraordinary urgent measures to address the economic and social impact of COVID-19. The initial amount was 2 billion euros, although it has been expanded to increase coverage and aid to companies.
In the second phase of aid, 673 operations have been registered, most of them involving SMEs.
Two lines of CESCE aid
The aim of the aid lines is to offer the greatest possible coverage to the greatest number of companies. In this way, it is believed that the economic recovery of the Spanish business sector will be boosted. To this end, it was decided to divide the CESCE aid into two different tranches, both endowed with 1,000 million euros each . The first of these is the CESCE Covid-19 I line, which was activated from April 2020 to November 2020. While the second is known as the CESCE Covid-19 II line.
The first line of aid was in operation until November 2020. The balance was positive. During those months, 752 operations were contracted, most of them for small and medium-sized companies. Specifically, of all the applications, 464 were for SMEs, 288 for non-SMEs and 10 for listed companies. The average coverage was 70.6%, and it is estimated that bank loans worth more than 1,377 million euros were mobilized.
The line that remains in force is the one referring to the second tranche of aid . When it was approved, it was planned to be in operation until June 2021, although it has now been extended to the end of the year. To date, 673 operations have been registered. As with the first line of Covid-19 aid, the majority of applicants have been small businesses.
In the second phase of aid, 673 operations have been registered to date , of which 567 correspond to SMEs and 106 to non-SMEs. Among these figures, it is worth noting that 19 of the applicant companies are listed companies. To date, more than 500 million euros of the available credit has been mobilised from this line of aid.
CESCE grants through more than 22 banks
Through these lines of aid, bank loans of more than 1,877 million euros have been mobilised through 22 banks.
According to data provided by CESCE, of the 1,425 internationalized companies , more than 72%, that is, 1,031, are SMEs and have already benefited from the economic recovery support program.
72% of internationalized companies have already requested the line of aid.
The support programme is part of the action plan for the Internationalisation of the Spanish Economy 2021-2022. This is a programme that was recently approved by the Council of Ministers. The plan plans to allocate resources of 4,681 million euros in 2021 to financially support the internationalisation of companies. Within the commercial and financial support instruments, the plan includes the support of CESCE, through the planned issuance of 2,021 million euros in insurance on behalf of the State for this year.
Funcas estimates that 35% of Spanish companies had operating losses in 2020.
Two lines of aid have been launched to provide coverage for companies that are internationalised.
Economic recovery is a priority in 2021. Both SMEs and large companies have been affected by the situation caused by COVID -19 . After having to close their businesses and pause their activity, entrepreneurs fiji email list are looking for ways to recover from the pandemic . That is why aid such as the CESCE Covid-19 line is more important than ever.
It is worth noting that according to a report published by Funcas, 35% of Spanish companies had operating losses in 2020. This means that their income did not cover operating expenses, not even including the payment of debt or taxes. Funcas warns that this has led to the closure of thousands of companies and a financial weakening of those that are still open.
What are CESCE grants?
The CESCE Covid-19 line will help companies that are internationalized and facing financial difficulties. The line has been created to provide coverage for working capital credits on behalf of the State. Companies that are abroad and facing financial difficulties will be able to benefit from it until December 31.
This line of aid for the pandemic was initially approved in March 2020, in the midst of the lockdown. It was launched thanks to Royal Decree-Law 8/2020 on extraordinary urgent measures to address the economic and social impact of COVID-19. The initial amount was 2 billion euros, although it has been expanded to increase coverage and aid to companies.
In the second phase of aid, 673 operations have been registered, most of them involving SMEs.
Two lines of CESCE aid
The aim of the aid lines is to offer the greatest possible coverage to the greatest number of companies. In this way, it is believed that the economic recovery of the Spanish business sector will be boosted. To this end, it was decided to divide the CESCE aid into two different tranches, both endowed with 1,000 million euros each . The first of these is the CESCE Covid-19 I line, which was activated from April 2020 to November 2020. While the second is known as the CESCE Covid-19 II line.
The first line of aid was in operation until November 2020. The balance was positive. During those months, 752 operations were contracted, most of them for small and medium-sized companies. Specifically, of all the applications, 464 were for SMEs, 288 for non-SMEs and 10 for listed companies. The average coverage was 70.6%, and it is estimated that bank loans worth more than 1,377 million euros were mobilized.
The line that remains in force is the one referring to the second tranche of aid . When it was approved, it was planned to be in operation until June 2021, although it has now been extended to the end of the year. To date, 673 operations have been registered. As with the first line of Covid-19 aid, the majority of applicants have been small businesses.
In the second phase of aid, 673 operations have been registered to date , of which 567 correspond to SMEs and 106 to non-SMEs. Among these figures, it is worth noting that 19 of the applicant companies are listed companies. To date, more than 500 million euros of the available credit has been mobilised from this line of aid.
CESCE grants through more than 22 banks
Through these lines of aid, bank loans of more than 1,877 million euros have been mobilised through 22 banks.
According to data provided by CESCE, of the 1,425 internationalized companies , more than 72%, that is, 1,031, are SMEs and have already benefited from the economic recovery support program.
72% of internationalized companies have already requested the line of aid.
The support programme is part of the action plan for the Internationalisation of the Spanish Economy 2021-2022. This is a programme that was recently approved by the Council of Ministers. The plan plans to allocate resources of 4,681 million euros in 2021 to financially support the internationalisation of companies. Within the commercial and financial support instruments, the plan includes the support of CESCE, through the planned issuance of 2,021 million euros in insurance on behalf of the State for this year.