The public company serves as the Government of Navarre’s instrument to attract and develop high value-added business projects for the region. It has the capacity to make strategic investments through venture capital and to implement financial support measures for individuals and companies, including the granting of loans and guarantees. In this regard, its financial support is primarily focused on boosting the competitiveness of the region’s productive fabric by supporting high value-added projects, including foreign-origin initiatives that also contribute to job creation and wealth generation in the territory.
The guarantees authorized for Sodena must be granted in accordance with the requirements established for each type of company and must comply with the applicable regulations, including the Navarre Public Finance Law, Foral Decree 216/2019, the Organic Law on Budgetary Stability, and European Union regulations on State aid. These individual guarantees, outside agreements with Mutual Guarantee Societies, will be directed exclusively towards companies operating in Navarre and will have a specific purpose — that is, they must be used to finance the company’s ordinary activities (investment and working capital) and not be diverted to other uses.
The public company always assesses the guarantees provided by applicant companies, seeking to obtain the maximum possible. If the guarantees do not cover at least 50% of the guaranteed amount, a justification report must be submitted objectively detailing the impossibility of providing further guarantees and rigorously evaluating the financial risk for public funds. Furthermore, the public company reports quarterly to the Directorate-General for Economy–Next Generation of the Government of Navarre on all guarantees granted and publishes the gross grant equivalent of each guarantee in the National Subsidies Database.
Beneficiaries may include companies in which Sodena holds a stake, third-party companies, or SMEs that have received guarantees from Elkargi or Sonagar, the two Mutual Guarantee Societies operating in Navarre. According to recent data from the regional government, agreements with these entities have enabled the formalization of over 1,800 operations totaling nearly 324 million euros, contributing to investment, competitive improvement, and job creation among the self-employed and SMEs in Navarre.
Through Invest in Navarra–Sodena, we encourage all foreign-capital companies considering establishing themselves or investing in our region to explore the wide range of services we offer to support them at every step of their implantation process in the region. Full information is available on our website.
Source: Navarra Capital