Royal Decree-Law 34/2020, of November 17, has been published in the BOE (Official State Gazette). It includes a package of measures to support the liquidity and solvency of the self-employed and companies.

Throughout this year 2020, the ICO-Covid line of guarantees has represented the most important support for business financing. The State has guaranteed up to 80% of the principal of the new loans formalized, with interest rates that were very attractive, starting at 1% per year.

Now, in the new Royal Decree-law the following measures are presented:

  • The period initially established for granting these guarantees ended on December 31, 2020. The guarantee availability period has been extended until June 30, 2021, so that banks may be requested to formalize loans guaranteed until June 1, 2021.
  • Loans with a public guarantee already signed under the previous Royal Decree-Law 8/2020, of March 17, may have their maturity extended, which will be accompanied by an extension for the same term of the public guarantee. In this way, financial institutions must extend the maximum term of guaranteed loans by up to three additional years for those debtors who meet a series of requirements and request it (basically, not be in default or involved in bankruptcy proceedings). The bulk of the loans were formalized for a period of 5 years, including 1 for a grace period. The new resulting term may be extended up to 8 years including 2 of the amortization grace period.
  • The financial entities will approve the extension of the terms at the request of the client in a maximum of 30 days.
  • The loans that will be formalized in the future will also see the maximum term increased up to 8 years.
  • The Royal Decree-Law includes a 50% reduction in notarial and registration fees, in cases where these had to be satisfied for the novation, postponement, registration or elevation to the public or intervention of the corresponding operations.
  • The Official Credit Institute (ICO) may request information directly from the Risk Information Center of the Bank of Spain, in order to speed up the procedures related to the verification of unpaid payments.

The Government of La Rioja has launched its Economic Reactivation Plan to confront the effect of COVID-19 on companies. It has a budget of almost 30 million euros and is aimed at all companies and self-employed in La Rioja.

The aid lines that have been called on June 24 are retroactive and will allow subsidizing investments made since April 2, 2020.

The common characteristics are:

  • Application deadline: 06/24/2020 – (original: 10/15/2020) Extended: 15/12/2020.
  • Grant intensity: (original: 40% on investment or expense). Extended: 70% on investment and 100% on expense).
  • Requirement: companies or self-employed people face a lack of liquidity or other significant damages as a result of the COVID-19 outbreak, or their economic results have been affected as a consequence of the state of alarm decreed as a result of COVID-19.
  • Minimum investment: € 1,000

The following programs are established, with different sub-limits and grant tranches:


1. Safe reincorporation plan to work centers:

a) Safety at work: occupational risk prevention plans.

b) Acquisition of disinfection and hygiene assets (facilities, machinery, equipment and cleaning and disinfection systems; access control and monitoring; isolation or compartmentalization; control or measurement of body temperature or other biological parameters; or any other investment necessary for the minimization of occupational risks caused by COVID-19)

2. Reactivation of the business, with the following programs:

a) Plans of strategic reorganization and for the adaptation of products, processes and organization.

b) Acquisition of assets for business reactivation and connectivity.

c) International repositioning.

d) Repositioning of trade. Modernization, comprising:

Acquisition of fixed assets for retail SMEs (civil works and facilities of any kind, project and management fees, furniture, equipment, machinery, transport vehicles, mixed or derived from passenger cars)

Innovation plan in commercial management.

Technological implementation plan (hardware, software, peripherals and POS terminals, electronic commerce)

e) Relaunch of tourism:

Support for the preparation of plans to relaunch tourism business activity after COVID-19, for the design and prototyping of new services, products and tourism experiences.

Acquisition of assets for the redesign of the provision of tourism services, products and experiences.

The call establishes three similar help lines, but directed according to the applicant’s CNAE code:

  • MTG – Economic restructuring plan COVID-19.
  • MTC – Economic restructuring plan COVID-19 – Commerce.
  • MTT – Economic restructuring plan COVID-19 – Tourism.


To take into account: Companies whose main activity falls within Division 10 (food industry) or Division 11 (beverage manufacturing – wineries) of Section C of the CNAE-2009 may be beneficiaries, in addition to the planned programs in the line for companies of a general nature (MTG), of those grouped in the aid of the line of tourism (MTT) whenever they carry out on a secondary basis a tourist activity, such as Wine Tourism.


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