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he Covid-19 health crisis has had a strong impact on the economy and the Catalan business fabric. As a consequence of this global pandemic, freelancers, SMEs, and entities have seen their activity reduced and their businesses, strategic plans, and jobs endangered. The retail sector has been one of the most affected with the temporary closure of stores and the reopening with conditions, to respect safety and prevention measures.
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To address the liquidity needs of companies and also preserve jobs, the ICF has activated, since the outbreak of the crisis, multiple financing solutions that, in total, amount to 1,100 million euros in the form of loans and guarantees with a dual objective: to finance working capital and ensure the employment of workers.
Abacus Cooperativa is one of the companies that has received financial support from the ICF to mitigate the negative effects of the pandemic. Specifically, it has done so through a loan with Caixa d'Enginyers, which the ICF has guaranteed through its "ICF Crèdit COVID-19 (Guarantees)" line.
The general director of Abacus, Miquel Àngel Oliva, explained that "the Caixa Enginyers loan guaranteed by the ICF has given us the necessary boost to face a very difficult situation."Abacus was born in 1968 with the aim of facilitating access to quality products for education, culture, and leisure. They do this through an extensive range of cultural and educational products and services, revitalizing the territory with activities for the entire community and promoting sustainable experiences and consumption in the cultural, educational, and leisure fields.
Currently, the company has a total of 50 establishments, most of them in Catalonia. COVID-19 caused the temporary closure of its stores and, although its digital strategy has allowed them to continue activity, it has not fully compensated for the closure. The general director of Abacus Cooperativa, Miquel Àngel Oliva, explained that "the Caixa Enginyers loan guaranteed by the ICF has given us the necessary boost to face a very difficult situation to move forward."
Currently, the company has a total of 50 establishments, most of them in Catalonia. COVID-19 caused the temporary closure of its stores and, although its digital strategy has allowed them to continue activity, it has not fully compensated for the closure. The general director of Abacus Cooperativa, Miquel Àngel Oliva, explained that "the loan from Caixa Enginyers guaranteed by the ICF has given us the necessary boost to face a very difficult situation."
The ICF, as Catalonia's public bank, continues to support the economic fabric to finance projects that allow building a sustainable future in which growth and innovation are the backbone of the economy and businesses. Since the outbreak of the pandemic, it has financed more than 1,500 entrepreneurs, SMEs, and entities affected by Covidien-19.
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