C19 Update Spain: State guarantees finance

Purpose: to prevent liquidity problems

Because of the COVID-19 crisis, on March 24 the Spanish government announced a series of extraordinary measures to help companies to face the economic and social impact.

Some of these measures are aimed at assuring the liquidity of Spanish companies and entrepreneurs. The idea is that Spanish companies and entrepreneurs continue being operational and that a lack of liquidity does not become and solvency problem.

The state guarantee runs up to 20 billion euro and is in principle in equal parts available for MSEs and large enterprises. Conditions boil down to the following:


  • The application has to be filed until 30.09.2020; if conceded, the possibility exists for retroactive effect as from 18.03.2020.
  • The state guarantee for new loans or for renewed loans for SMEs is 80%. For large enterprises it is 70% for new loans and 60% for renewed loans.
  • The validity of the guarantee is the same as the loan duration with a maximum of 5 years.
  • The applicant cannot as per 31.12.2019 be in a situation of late payment, or as per 17.03.2020 in a bankruptcy procedure.
  • The costs for the bank: between 0.2% and 1.2%.
  • The costs for the companies: to be determined by the bank.

Which banks?

The loans are to be granted by the important Spanish banks (Banco Santander, BBVA, Caixabank and alike).

The banks have committed to maintain the charges at “pre-Covid19 level” and to maintain the terms of existing credits until 09/30/2020.

Although not all bank employees will already know the ins and outs, we still recommend contacting the usual contact persons.


You can of course also contact your contact person at EuroEconomics. We can then assist you to request the options and conditions from your bank.

You can also easily email to welcome@euroeconomics.com.

More news on COVID-19 measures in Spain


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