The Reciprocal Guarantee Societies in Spain
is a type of funding scheme providing assistance to Spanish businesses
which operate as small and medium sized companies (SME)
. The Guarantee System
can act as a third party between the entities which are interested in obtaining funding
and the credit institutions
, as it acts as guarantor
in this case. Our team of lawyers in Spain
can offer legal assistance on the regulations related to the Reciprocal Guarantee Societies
Main services of the Reciprocal Guarantee Societies
The Reciprocal Guarantee Societies
is a system that was enabled in Spain
at the end of the 1970s. When accessing the program, the companies
will benefit from a guarantor
that will ease the possibility of obtaining credit
. At the same time, in the situation in which the transaction
will fail, the credit institution will require the Guarantee System
to act as a guarantor
for the respective case.
Through this program, the companies
interested in obtaining funding in Spain
may also benefit from:
• information services;
• financial training;
• business promotion.
Register with the Guarantee System in Spain
Companies operating in Spain
can receive assistance from the Guarantee System
only if they will obtain the status of partners
by acquiring social quotas
of the Guarantee System
can receive the participant partner status
. Our Spanish lawyers
can offer more details on the requirements set out when becoming a partner of the structure.
The Guarantee System also provides the status of protection partners, which is applicable to entities such as:
• saving banks;
• autonomous communities;
• Chambers of Commerce.
The Guarantee System
is also available for natural persons who have the status of self-employed entities
. In this case, sole traders in Spain
are also entitled to register for assistance.
Through this program, companies and self-employed persons can receive better interest rate conditions and the entities requesting assistance from the Guarantee System will benefit from reduced requirements in terms of corporate guarantees.