The Catalan Institute of Finance (ICF- L'Institut Català de Finances), the Mutual Guarantee Society of Catalonia (Avalis SGR - Societat de Garantia Recíproca de Catalunya) and Barcelona City Council, through Barcelona Activa, launch B-Crèdits, a line of loans with a thousand microloans of 12,500 Euros to support micro-SMEs and self-employed people in the city economically affected by the covid-19.

The loans are 12,500 Euros, a fixed amount to be repaid in five years, with the first year of grace and a variable interest rate (Euribor at twelve months + 1.85%).

What are the conditions for requesting the loans?

The microloans will be 100% guaranteed by the Sociedad de Garantia Recíproca de Catalunya, Avalis de Catalunya, which will have a contribution of two million Euros from Barcelona City Council. The beneficiaries of the guarantees must become members of Avalis by subscribing to a share of 200 Euros.

These conditions will be valid until 31st December, 2020, and will be reviewed from 2021 with the market conditions currently applied by Avalis and the ICF to this type of operation.

This line of microloans is part of the economic recovery plan promoted by the Centre for the Coordination of the Economic Response (Cecore), created at the beginning of the pandemic to reactivate the city's economy. Loans can be applied for from Monday, 5th October, 2020.

These strategic plans also include the Rethinking business reactivation service, promoted by Barcelona Activa, to support self-employed people, businesses, start-ups, small and medium-sized companies and SSE organisations in need of advice and assessment to boost their economic activity in the post-covid-19 context.