Balearic start-ups secure €612,000 in recovery loans

Four new start-ups and innovative small and medium-sized businesses in the Balearics are receiving loans worth a combined €612,000. The money comes from Spain’s Recovery Plan. The Government Delegation announced the funding in Palma on 15 September.

The loans are being channelled through the Recovery and Resilience Mechanism, the funding arm of the plan. The Government Delegation said it strengthens access to credit for innovative businesses across Spain and supports greater economic cohesion.

The Ministry of Industry and Tourism has delivered the funds through Enisa, a public company. Enisa has now completed the use of the Recovery and Resilience Mechanism resources, cementing this support for innovative entrepreneurship and business growth.

A steady supply of funding has allowed applications to be handled continuously, speeding up their assessment and approval. That has widened financing options for innovative firms in Spain.

Across the country, Enisa has formalised 456 participative loans worth €79.8 million. The funding is intended to turn the Recovery Plan’s aims into business projects capable of generating innovation, economic activity and jobs.

Topics: Tourism · Politics · Economy

Source: Europa Press / Mallorca.com