/ The initiative, which was passed Thursday by Congress, aims to help Councils to pay its debts to SMEs and freelancers. To do this, councils will have to submit invoices that should and sort them, putting first the oldest providers. The line that opens the official credit Institute (ICO) to help Councils to pay its debts to SMEs and freelancers, and funding that was passed Thursday by Congress, will begin to be paid in mid-August. So has explained this Friday in Lleida the President of ICO, Jose Maria Ayala, who pointed out that in the coming days, expected by the end of next week or end of month maximum, it will start window through which Councils may apply for these credits. To be able to ask for such aid, councils will have to submit invoices that should and sort them, putting first the oldest providers. The oldest creditors will have priority in the recovery and small businesses, said Ayala.
According to their calculations, first payments through this line of credit will begin to perform in mid-August, although it is expected to be in the months of September and October when to pay more debts of consistories, because it will be will come when more requests. Ayala recalled that councils are eligible for this credit line only until November 30 and that may not ask more than 25% of their participation in State taxes. The President of the ICO has come this Friday to Lleida to sign with the Chamber of Commerce a line of collaboration aimed at enhancing the access of SMEs and freelancers Lleida programs of direct financing of the Institute. Ayala has indicated that this direct credit line already is currently 24% of all loans that gives the entity in Catalonia. Through this line, companies can request up to 200,000 euros to achieve liquidity or to make investments. Hopefully that through the Chamber of Commerce of Lleida we can reach more companies of the territory to get to know this product that is working so well, has remarked. Finally, Ayala has explained about the balance of ICO’s credit lines during the first half of the year, that at the moment in the whole State loans have been granted for a volume of money similar to 2010, but for minor operations. The average amount is now slightly below the 60,000 euros on average that were awarded in 2010, that was the first year of recovery from the crisis and therefore financial institutions much used lines of ICO to give money to the companies. Now the situation has stabilized, but we intend to give loans for a total amount similar to last year, he has been completed. Source of the news: ICO to councils loans begin to be paid in the month of August