Agreement between CEIA and Oinarri to finance SMEs

• According to the convention signed at the technology park of Álava, the reciprocal guarantee society will finance the companies members of the Centre of Enterprises and Innovation of Álava on preferential conditions. 
• Oinarri will also offer individualized and free of charge advice on the ways of financing for new expansion and development projects.

The Centre of Enterprises and Innovation of Álava, CEIA, and the society of reciprocal guarantees Oinarri, both headquartered in the technology park of Álava, have signed a preferential financing agreement. The agreement states that Oinarri SGR will offer SMEs and self-employed workers supported by CEIA preferential financing conditions, both in cost and deadlines, to undertake new investment projects, as well as access to liquidity lines to improve their cash. The financing agreement, which may be renewed annually, allows to adapt the conditions of financing according to the needs of each project.

The line launched by Oinarri will enable to finance refurbishing and renovation of buildings, purchase of furniture, equipment or facilities, as well as the acquisition of real estate by CEIA members. It will also permit to finance short-term needs of cash, stocks or technical guarantees required by these companies. Moreover, credit accounts both for micro-enterprises and self-employed workers are considered.

Likewise, it will allow to carry out restructuring of liabilities in order to improve the balance sheets of the companies benefiting from the Convention.

In the framework of the agreement, Oinarri will offer free advice to SMEs of the CEIA who may request it, to know the ways of financing new expansion and development projects.

The agreement between CEIA and Oinarri has been presented at the technology park of Álava in the course of a seminar on financing to entrepreneurs.