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One of the main consequences of COVID-19 for the business fabric has been the decrease or halt of activity, which has caused certain difficulties in meeting short-term payments. Aware of this situation, the Institut Català de Finances, jointly with the Government of the Generalitat, has worked since the beginning of the pandemic to offer financing solutions that would allow entrepreneurs, companies and entities to face the new reality. In total, 1.100 million euros in the form of loans and guarantees.
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The Catalan industrial company Inoxforma is one of the more than 1,500 companies that, in recent months, has received financing from the ICF to cover liquidity needs and preserve jobs. Based in Manresa and with more than 45 years of experience, this SME specializes in transforming stainless steel to make finished or semi-finished products, destined for the food, electrical-electronic and valve sectors.
The ICF continues to support the economic fabric to finance projects that allow building a sustainable future in which growth and innovation are backbone axesThe COVID-19 crisis caused the company to close for several weeks, and then return with conditions that were not usual, affecting its treasury. All this led Inoxforma, which exports more than 80% of its manufacturing to Europe, the United States and Russia, to apply for the loan "ICF Eurocrèdit COVID-19", a credit line 100% financed by the European Regional Development Fund of the European Union, which has very advantageous conditions for SMEs.
"As we don't know how this situation will end, we wanted to have our treasury resolved, so as not to have future problems," declares Elvira García, manager of Inoxforma. In any case, if activity returns to normal, the company will use these European resources to make investments that improve its competitiveness. 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.
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