From January to October 2024, the 18 Reciprocal Guarantee Societies (SGR) operating in Spain injected financing worth 2,165 million euros to SMEs and the self-employed throughout the country, based on 19,050 formalized guarantees, which has meant an investment in the economy of 2,815 million euros. The credits that the SGR maintain active amount to 7,865 million euros, an increase of 5% compared to the same period in 2023.
All in all, the financing provided by the SGR already benefits 180,307 SMEs, self-employed workers and entrepreneurs and contributes to the maintenance of more than one million jobs. «Although we are in a slightly more optimistic scenario for companies, with a gradual lowering of rates by the ECB, the role of the SGR seems essential so that SMEs can continue accessing that financing that contributes to their consolidation and growth,” says José Pedro Salcedo, president of SGR-Cesgar.
The financing provided becomes even more relevant in a scenario in which, according to Cepyme, the productivity of SMEs accumulates six consecutive quarters of decline. In this context of aid to business initiative, the economic injection made by the national guarantee system has also been possible thanks to the reassurance of CERSA (Spanish Reaffirmation Company), which has also contributed to the SGR participating in channeling the Next Generation Funds, framed within the Recovery, Transformation and Resilience Plan (PRTR). Since 2021, the 18 SGRs have already injected more than 5.8 billion euros from these funds to more than 30,000 SMEs and the self-employed, especially destined for digitalization and sustainability projects.
In the first ten months of 2024, financial guarantees (86.5%) have been the type of financing most in demand by SMEs and the self-employed. The highest demand has occurred in guarantees intended for investment (46.2%), while guarantees intended for currency represent 36.4% of the amount granted, which represents an increase of 3.5 points with respect to the same period of 2023.
Support for sustainability
Nuria Iglesias, Director of Operations at Mobify (flexible carsharing solution in Galicia), explains how the support of Sogarpo, through its line of guarantees in collaboration with IGAPE, helped her company for the launch of new areas and for expansion to new territories. “We anticipate that in the next two years our fleet will reach 400 vehicles, so any user will be able to start a rental wherever they want and travel wherever they need, in urban or rural areas,” says Iglesias. Financial aid meant access to expand fleet«which allowed us to incorporate the electric vehicle. We especially value the dedication and effort that the Sogarpo team has invested in learning about our project and advising us on financing,” he concludes.
In the case of Javier Villanueva, CEO of RenerCycle (circular economy for the sustainability of wind farms), he highlights the importance of the help of a financing agreement with Sonagar, Caja Rural de Navarra and Laboral Kutxa. «Thanks to the support of Sonagar and the rest of the entities, we ensure the execution of our four-year business plan with the first investments in Navarra (6.5 million euros) and the creation of the first jobs in the circular economy », he explains. Thanks to this, the company will be able to develop industrial activity in its logistics center for temporary storage of different elements of the wind turbines in the Falces industrial estate, Navarra.
“Thanks to the support of Sonagar and the rest of the entities, we ensure the execution of our four-year business plan”
Javier Villanueva
RenerCycle CEO
Financing to improve
José Carlos Gómez, managing director of ELPA Factory (a Toledo company specialized in the supply of processed potatoes for restaurants and industrial kitchens), details, for his part, how Aval Castilla-La Mancha has allowed them to access financing to implement mechanized procedures, which They have contributed to achieving a very high quality product. “The help of Aval Castilla-La Mancha has been essential to take another step in improving our product and its adequate distribution to our customers,” underlines Gómez.
“The help of Aval Castilla-La Mancha has been essential to take another step in improving our product”
Jose Carlos Gomez
ELPA Factory Managing Director
The case of EAVE, a company specialized in the implementation of renewable energies and sustainable mobility, is another of the numerous examples of economic development thanks to the support of the SGR. The company has had a loan for sustainable investments, facilitated thanks to the guarantee of AvalCanarias and the financing of Aachen. “Obtaining this loan has been a true turning point for our company, since it has allowed us to give a great boost to our research and development (R&D) projects,” says Luis Linares, CEO of EAVE. “We have found a financial solution that has demonstrated that there are agile and effective mechanisms to support startups on their path towards a more sustainable future,” he concludes.
“We have found a financial solution that has demonstrated that there are agile and effective mechanisms to support startups”
#support #SGR #boost #companies #leap
