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SAECA and the regional Government of La Rioja renovate their collaboration in favor of the farming and stockbreeding estates

SAECA and the regional Government of La Rioja renovate their collaboration in favor of the farming and stockbreeding estates

04/07/2016 - Madrid
Press release SAECA

The Sociedad Anónima de Caución Agraria (SAECA) and the Government of La Rioja, through the latter Department for Agriculture, Stockbreeding and the Environment, have concluded a new agreement setting up the collaboration framework between both entities in order to facilitate to the holders of the farming and stockbreeding estates in La Rioja the guarantees required for having access to the loans granted to financing investments for the establishment, conservation or improvement of their estates, and for the cash flow required for this.

The Head of the Department for Agriculture, Stockbreeding and the Environment of the regional Government of La Rioja, Mr. Iñigo Nagore and SAECA’s Chairman, Mr. José Ramón Bujanda, were the signatories of this agreement.

SAECA, after studying each deal, will supply the guarantees and bails required for the loans granted by public or private financial institutions destined to financing the above mentioned investments or the required cash flows, and these guarantees can be requested by the natural or legal persons which are the holders of a farming or stockbreeding estate located in La Rioja.

The Government of La Rioja will subsidize the costs resulting from the formalization of these guarantees during 2016. Thus, it will compensate the opening and study fee for up to 0.50%, and the management fee for the first year, for up to 75%.

The maximum amounts on which will apply the incentives to SAECA for the cost of the guarantees reach, in the case of investments, up to 180,000€, in the case that the holder of the estate is a natural person, and up to 240,000€, when this is a legal person.

As for the guarantees for loans for the cash flow, the maximum costs which can be discounted apply, in the case that the holder of the estate is a natural person, of up to 45,000€, and in the case of legal persons, of up to 60,000€. Furthermore, in the case of the cash flow for stockbreeding estates, the maximum amount of the loan on which applies the discount for SAECA will also be limited by the real size of the estate, according to a scale set within the 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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