Banca March unlocks €280m for Spanish businesses

Banca March is opening up to €280 million in funding for Spanish small and medium-sized businesses and medium-sized companies. The money is intended for investment, working capital and liquidity. The bank announced the move on 25 September after signing a €140 million guarantee agreement with the European Investment Bank.

The guarantee allows Banca March to offer financing on attractive terms to companies across Spain. At least 50% of the investment is expected to go to cohesion regions, where income per head is below the European Union average.

The European Investment Bank and Banca March say the agreement is designed to support business growth, competitiveness and job creation, while narrowing gaps between regions.

Topics: Economy

Source: Europa Press / Mallorca.com