SAECA and CAJAVIVA Caja Rural renovate their collaboration with the signing of a new agreement for the primary sector
Sociedad Anónima de Caución Agraria (SAECA) and the rural savings bank CAJAVIVA Caja Rural have concluded a collaboration agreement for financing those transactions which seek to generate, preserve, or improve the forest, farming, stockbreeding, or fishing wealth, adopting the form of agribusiness industry, improvement or setup of irrigation systems, purchase of land or machinery, farming or stockbreeding facilities, purchase or improvement of the rural dwelling, cash flow, or any other regarding the farm industry.
CAJAVIVA Caja Rural’s General Manager, Mr. Ramón Sobremonte, and his counterpart at SAECA, Mr. Rafael Pizarro, signed this agreement, as a result of which the SAECA company will supply the guarantees and cautions required for the loans granted by CAJAVIVA to the primary sector according to preferential financing terms and with a redemption term of up to 15 years, or 25 years in the case of irrigation associations.
The agreement stipulates that the transactions will be for up to 250,000 € in the case of natural persons, and for up to 400,000 € for legal persons, and that it can reach up to 13 M€ for the transactions for irrigation associations.
This agreement will allow to the applicants to have access to financing for their farming estates under better financial terms, without having to resort to mortgage their goods, since the guarantee is personal, and having at their disposal a long term for repaying the loan, which will be exempt of redemption or early devolution fees.
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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