PIMEC joins the line of loans for SMEs initiated by the Institut Català de Finances (ICF), via its subsidiary IFEM (Instruments Financers per a Empreses Innovadores), and Caixa d’Enginyers.

This line of financing called IFEM Creixement is equipped with 30 million euros to finance investment projects and/or working capital needs.

As from today, PIMEC will also channel the new IFEM Creixement line via its network of consultants to advice and provide access for SMEs that are growing. Employers wish to satisfy all the needs of the collective they represent to drive the growth of SMEs and boost their competitiveness.

The funds are provided by lFEM and are co-financed by European structural funds (ERDF), managed by IFEM, as part of the JEREMIE program inCatalonia. This ICF subsidiary allocates these funds to the growth of micro, small and medium size companies.

Caixa d’Enginyers is the exclusive distributor of the loans. The ICF, via IFEM, bears part of the credit risk of the operation (70%) so as to provide SMEs with access to financing. The guarantees for the financing are determined in accordance with each project.

For investment projects, the loans range between 0.5 and 2.5 million euros, with a repayment deadline of up to 10 years, with the option of up to 2 years grace period included. For working capital needs, the loans range between 0.5 and 2 million euros, with a repayment deadline of up to 5 years, with the option of up to 1 year’s grace period included. In both cases the loans have a 12-month Euribor interest rate plus a maximum differential of 1.25%, plus an arrangement fee of 0.5%.

SMEs interested in this line of financing can contact PIMEC or any of the offices of the Caixa d’Enginyers. The deadline for submitting applications ends on 15 December 2015.