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SAECA and the Diputación Foral de Álava sign a new agreement for promoting the financing of farming and stockbreeding estates

SAECA and the Diputación Foral de Álava sign a new agreement for promoting the financing of farming and stockbreeding estates

22/04/2016 - Madrid
Press release SAECA

The Sociedad Anónima de Caución Agraria (SAECA) and the provincial Government of Álava, the Diputación General de Álava, through its Agriculture Department, have concluded a new collaboration agreement. Its goal is that of facilitating to the owners of farming and stockbreeding estates in Álava the guarantees required for having access to the loans earmarked to financing investments for the creation, preservation, or improvement of the above estates, and for current assets in the case of the stockbreeding estates.

The Diputado Foral for Agriculture at the Diputación Foral de Álava, Mr. Eduardo Aguinaco and SAECA’s Chairman, Mr. José Ramón Bujanda, signed this agreement, as a result of which SAECA will provide the required guarantees and bonding facilities for the loans granted by state or private financial institutions for financing investments or current assets requirements. These guarantees and bonding facilities can be requested by the natural or legal persons who are the owners of a farming or stockbreeding estate located within the historical territory of Álava, after a feasibility study of the transaction has been carried out,

The Diputación Foral de Álava will defray part of the costs resulting from the conclusion of this guarantees during 2016. Thus, it will compensate for 100% of the opening and study fees, and 60% of the management fee for the first year.

The maximum amounts on which will be applied the discounts on the guarantees’ costs reach, in the case of investments, up to 250,000 € in the case that the owner of the estate is a natural person, and up to 400,000 € if the owner of the estate is a legal person.

Any guarantee granted from January 1st, 2016 will be eligible for this agreement.

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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