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The Council Manager of the fund to support the solvency of strategic enterprises, recently approved by the Executive, has given the green light to the guide to make the request public support and the conditions for receiving it, as reported by the State Society of Industrial Participations (SEPI).
applicants must certify that they are to date with its tax obligations and against Social Security to December 31, 2019, in addition to provide information on possible public subsidies that have benefited in the past 10 years.
In particular, the requests for support temporary public should incorporate, among other things, a declaration on the part of the company will not be held in any of the prohibitions that apply to obtain the status of beneficiary; as well as a plan feasibility that pick up with measurable objectives forecasts of the business and the assets and financial position of the company.
Also, you need an affidavit related to the concurrency of certain conditions of eligibility, including the existence of a clear perspective of deterioration of heritage that make it necessary to strengthen the solvency of the company, accompanied by his strategic nature for the productive fabric national or regional.
prior to the request for public support in the temporary, at the request of the interested company you will be able to open up a period of information before SEPI in order to resolve any doubts about the terms and conditions applicable to operations under the fund and on the requirements to be met by the beneficiaries.
The fund to support the solvency of strategic enterprises is born attached to the General Administration of the State, through the Ministry of Finance, and is managed by the Board Manager, which was created on July 31st, through SEPI.
Supports by a minimum of 25 million
The fund is endowed initially with 10,000 million euros and will help to compensate for the impact of the health emergency in the stock of companies considered as strategic for the productive fabric and economic. This fund conforms to the rules of State aid of the EU and is part of the european strategy of measures of financial support in public in front of the Covid-19.
The operations of public support temporarily to strengthen the solvency of business, which term of grant concludes, initially, to June 30, 2021, may be the granting of participating loans, convertible debt, subscription for shares or equity interests or any other capital instrument.
The roads used will be chosen so that they are the most appropriate to meet the recapitalisation needs of the beneficiary and the least distorting competition.
The minimum amount of operations to be 25 million euros per beneficiary. The remuneration of the operations and output of the State shall comply with the provisions in the implementing regulations.
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