Extremadura Avante has made available to entrepreneurs and entrepreneurs in Extremadura financial instruments amounting to 50 million euros in the form of equity and loans https://green-touch.org/installment-loans-explained/, through different lines, with the aim of “promoting industrial and business development in the region “.
These three lines of financing are ‘Avante directo’, focused on projects of entrepreneurs and companies in the growth phase; ‘E2I’, aimed at financing technology-based companies and innovative projects; and ‘Avante Capital Riesgo’, aimed mainly at internationalization projects.
Thus, the line ‘Avante Directo’ is endowed with 10 million euros, the same amount as ‘E2I’, and the line ‘Avante Capital Risk’ has 30 million euros from public and private funds to be managed by the Management Company of Entities of Risk Capital (Sgecr) constituted recently, explains the regional Government in press release.
He explains that the main characteristics of these financing instruments are “the greater flexibility of the bankable concepts and a greater follow-up and rigor in the phase of investment execution and start-up of the project”.
In addition, these financing instruments are aimed at all sectors, except real estate and finance; they are signed under market conditions, they are selective and personalized since the amounts that are granted are calculated on the basis of a business plan.
The regional government clarifies that the financial support of Extremadura Avante is “temporary and minority”, representing preferably between 15 and 30 percent of the project’s needs, and “the disbursements are made by phases of project execution and not by end of the investment “.
In this sense, the promoter will be required to commit to the reimbursement or disinvestment of said funds, which, once recovered, will be applied to feed these financing lines again for new projects.
Dynamization of the regional economy
Explains that these financing instruments are “one more measure put in place by the Government of Extremadura”, in this case through Extremadura Avante, to “boost the economy of Extremadura and in coordination with the rest of the lines adopted within the 3E Plan ”
It is, he adds, “a firm commitment to the business fabric of Extremadura in order to create wealth and employment in the region.”
To access these financing formulas, the promoter must present a project that will be structured in a business plan, “with a clear, powerful conceptual model committed to Extremadura.”
It should be noted that Extremadura Avante has a network of more than 60 agents spread throughout the region in order to train the entrepreneur and the entrepreneur in the different facets of their business projects, ranging from advice to innovation, exports, investment abroad or the search for alternative sources of financing.
Thus, according to the data provided by the regional government, during the first quarter of the year, Avante has attended more than 2,000 consultations, performing more than 200 actions between conferences, meetings, fairs or missions, currently under study 50 business projects.
At present, Avante has 75 companies in which it has a portfolio, with an average stake of 36.5% of the share capital, which generated 320 million euros of investment and 1,500 jobs. In addition, the public company Extremadura Avante provides advice and physical location to 100 companies in innovation and entrepreneurship centers.