SAECA becomes a party to the ICO lines for facilitating the financing to farmers and stockbreeders
25 April 2013 | Madrid
- SAECA concludes a Collaboration Agreement with the Ministry of Agriculture, Food, and the Environment and the ICO for promoting access to financing
- SAECA’s inclusion into the line “ICO Enterprises and Entrepreneurs” takes place after the signing of an agreement with the ICO, CERSA and CESGAR
The company Sociedad Anónima Estatal de Caución Agraria (SAECA), of Grupo SEPI, has concluded a Collaboration Agreement with the Ministry of Agriculture, Food and the Environment and with the Instituto de Crédito Oficial (ICO), whose goal is that of promoting the access of Small and Medium-Sized Enterprises (SMEs) belonging to the primary sector to financing.
SAECA’s guarantee was included into the line “ICO Enterprises and Entrepreneurs 2013”, a byproduct of “ICO Guarantee SGR”, after the signing on April 4th, 2013 of a Collaboration Agreement among the ICO, SAECA, the Compañía Española de Reafianzamiento (CERSA), which is attached to the Ministry of Industry, Energy and Tourism, and the Employers Association of Mutual Guarantee Companies Confederación Española de Sociedades de Garantía Recíproca (CESGAR). The purpose of this agreement is that of facilitating the granting of financing to investment projects or to cash requirements on the part of self-employed workers and enterprises, through the conclusion of contracts with the financial institutions with SAECA’s guarantee or that of a SGR and, where applicable, CERSA’s renewal of the guarantee.
These agreements will allow the financial institutions to grant loans to farmers and stockbreeders, within ICO’s financing lines, thus facilitating the much needed financing of the primary economic sector.
About SAECA
The Sociedad Anónima Estatal de Caución Agraria (SAECA) has as its shareholders SEPI, which holds a 80% participation, and the FEGA, with the remaining 20%. Its activity is focused on providing covers (guarantees and sureties) to natural or legal persons in order to promote investment financing in the forest, farm, stockbreeding, agribusiness and fishing industries and, in general, in all those activities which promote rural development.
SAECA belongs to Grupo SEPI, a corporate holding which includes a total of 18 state-owned companies in which it has direct, majority shareholding participations, with a workforce of 80,000 professionals; it also includes the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further seven companies, and indirect shareholdings in more than one hundred companies.