SAECA and BCC renovate their agreement for facilitating loans to the farming sector
The Sociedad Anónima de Caución Agraria (SAECA) and the Banco de Crédito Cooperativo (BCC), the parent company of the Cajamar Cooperative Group, have updated the collaboration agreement concluded in June 2012 and later renovated in October 2013 and in April 2015, whose purpose was financing any kind of transaction which seeks to create, preserve, or improve the forest, farming, stockbreeding, or fishing wealth, materializing into agro-food business, the improvement or installment of irrigation systems, the purchase of land or of machinery, farming or stockbreeding facilities, the purchase or improvement of rural dwellings, current assets, and of any other regarding the farming sector.
The BCC representative, Mr. Roberto García and SAECA’s Chairman, Mr. José Ramón Bujanda, were the signatories of this agreement, which features a reduction of the interest rate, with the aim of adapting the loans terms and conditions to the situation of current financial markets.
The agreement already stipulated that SAECA would facilitate the required guarantees and bonding facilities for the loans granted by BBC to the farming sector under preferential terms and conditions, with a redemption term of up to 15 years, and the transactions would be subject to a maximum limit of up to 250,000 € in the case of natural persons, and of up to 400,000 € in the case of legal persons.
This agreement allows applicants to have access to financing without having to mortgage their assets, since the guarantee is of a personal nature, as well as having at their disposal a wide term for reimbursing the loan and better financial terms and conditions.
SAECA and Grupo SEPI
SAECA belongs to Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a workforce of around 73,000 professionals in 2014; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.
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