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Banco Santander makes available EUR 4 billion in new loans for SMEs to help stimulate the economy

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Banco Santander makes available EUR 4 billion in new loans for SMEs to help stimulate the economy

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Banco Santander makes available EUR 4 billion in new loans for SMEs to help stimulate the economy

  1. 1. Press ReleaseBanco Santander makes available EUR 4 billion in new loans for SMEs to help stimulate the economy  Half the total, or EUR 2 billion, will be channeled through ‘Crédito Activación’, a product aimed at financing business in Spain. The other EUR 2 billion will be earmarked for export finance.  The bank will offer loans at Euribor plus 3.20% (4.98% AER) to new and existing customers who apply through the Crédito Activación programme.Madrid, April 16, 2012 - Banco Santander has set aside EUR 4 billion to provide loansto small and medium-sized companies (SMEs) to stimulate their business, both insideand outside Spain, and contribute towards boosting the economy and creating jobs.EUR 2 billion are earmarked for lending to business in Spain and the other EUR 2 billionare to support companies’ international business.The credit line for Spanish business will be offered as a new product, at a verycompetitive rate of Euribor plus 3.20%, subject to a minimum amount of activity in theaccount (one transaction a month in at least two of the following categories: payments ofsalaries, social security contributions or state taxes, bills, international transfers in eurosor other currencies or in-store card payments). If customers do not meet theseconditions, they can still use the credit line but will be charged an additional 2.5%.Loans range from a minimum EUR 30,000 to a maximum of EUR 5 million for threeyears, with a one-year moratorium and quarterly principal repayments. The loans are fornew business, for both new and existing clients, and cannot be used to renew,restructure or refinance existing loans. The EUR 2 billion destined for internationalbusiness will allow the bank to offer companies competitively priced loans as advancesfor exports, to finance their international activity or their purchases abroad.This new credit line complements Santander’s Plan Exporta, a full range of services putin place a year ago to cover all the needs of SMEs when they start to export. To date,5,000 companies have used this plan, which includes finance (advances for exports, orfor bills, factoring and other specialist products), and coverage of risks and exchangerates, transfers, cheques and remittances as well as training for companies that are newto export, an area where the bank has been a pioneer.“SMEs are the driver of economic growth and job creation. We have supported themsince the crisis began with a wide range of products and financial services, adapted tothe current economic situation. We are confident that companies’ international businesswill be a key driver of the recovery. We want companies to be able to take advantage ofinternational growth opportunities and we hope to be a leader for SMEs that want toexport,” said Enrique García Candelas, Santander’s head of retail banking in Spain. Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 1 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 – Fax: 34 91 257 10 39
  2. 2. The new credit lines add to those provided by the Official Credit Institute (ICO), forwhich Santander is the number one distributor with a share of around 20% in 2010 and2011. The bank also provides support for SMEs through programmes such as ‘We Wantto Be Your Bank’, which has been offering commission-free services to the self-employed, businesses and micro-companies since 2007, through an agreement withGoogle which helps companies build up Internet business and through a variety ofagreements with national and regional business associations. Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 – Fax: 34 91 257 10 39

Banco Santander makes available EUR 4 billion in new loans for SMEs to help stimulate the economy

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