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arcelona is moving forward with the implementation of the various measures promoted by the Economic Response Center of the Barcelona City Council (Cecore) to mitigate the consequences of the health emergency. Through Barcelona Activa, the city council has launched a microcredit line together with the Institut Català de Finances (ICF) and the reciprocal guarantee society Avalis de Catalunya.
The line, named B-Crèdits, is endowed with 12 million euros and will be used to address the liquidity problems suffered by the city's economic fabric. Micro-SMEs and self-employed individuals will be able to access this financing, preferably from highly affected sectors such as hospitality, tourism, creative industries, education, and sports, as well as self-employed women and businesswomen who have suffered the effects of Covid-19.
"We have designed a financial product that, in addition to being 100% guaranteed thanks to the City Council, allows self-employed individuals and micro-enterprises to maintain their businesses and continue creating and innovating, until income recovery occurs," explained the Deputy Mayor for Economy, Jaume Collboni. According to the councilor, the key to these loans is that they are granted with a one-year grace period, so they can become "another lever for economic reactivation."
The B-Crèdits line joins the multiple solutions that ICF and Avalis had already launched to help the business fabric, with more than 1,100 million euros made available to the different economic sectors.
The amount of these microcredits will be 12,500 euros, which must be repaid within five years, with the first year being a grace period. Avalis will guarantee 100% of the loan and, in return, will receive a contribution of two million euros from the City Council. This line can be requested from October 5 through the Barcelona Activa website, although Avalis will be responsible for approving and authorizing or denying the loans, which will be granted by the ICF.
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