The purpose of this measure is to contribute to the economic dynamisation and strengthening of the region’s productive ecosystem. The Regional Minister for Industry, Ecological Transition and Digital Business, Mikel Irujo, highlighted the importance of the support provided by the public company dependent on the Government of Navarre to ‘business initiatives that would otherwise have difficulty in accessing traditional financing’. He also recalled that all operations carried out ‘are subject to an exhaustive viability analysis and, in cases where the amount exceeds 100,000 euros, require the specific approval of Sodena’s Board of Directors’.
Sodena, a public company dependent on the Government of Navarre, offers different types of loans, adapted to the needs of companies and entrepreneurs:
- Participatory loans: Aimed at companies in the growth or expansion phase. They combine ordinary interest with a variable tranche linked to the evolution of the business.
- Seed’ loans: These support projects in their early stages with amounts of less than 100,000 euros, assuming a higher risk to promote innovation and entrepreneurship.
- Ordinary loans: Aimed at financing investments or facilitating the establishment of companies in Navarre.
‘In addition, SODENA has 20 million euros in guarantees to support business financing’, according to Mikel Irujo.
CONDITIONS FOR LOANS
The loans granted must be for the purpose of financing the company’s ordinary business (investment and working capital). They may not be used as a bridge to a third loan or to finance operations outside the company’s normal operations.
The guarantees provided by the beneficiary will be analysed, prioritising the maximum possible coverage. If these do not exceed 50% of the amount granted, it will be necessary to justify, by means of a report, the impossibility of obtaining greater guarantees.
The public company will report quarterly to the Government of Navarra’s Directorate-General for the Economy-Next Generation on the loans granted, with individualised information for each beneficiary.
Each operation must comply with European regulations on State Aid, in accordance with Regulation 1407/2013 (de minimis) or Regulation 651/2014 (aid compatible with the internal market). Where applicable, the gross grant equivalent of the loan and its classification as de minimis aid or aid exempt from notification will be certified to the beneficiary company.
SODENA will also publish the gross grant equivalent of each loan granted in the National Subsidies Database. All information on the financial support available is available on its website.
Source: navarra.es