ELKARGI continues its commitment to supporting the entire business fabric, through collaboration, in order to deal with the difficult economic situation we live in. In particular, to stay close to newly created small businesses. In fact, these, despite having an interesting growth potential and an innovative base, face great difficulties in the financial market. This was the main reason for reaching an agreement with the BerriUp accelerator: to finance projects in the initial phase.

This collaboration agreement, signed by ELKARGI General Manager Zenón Vázquez and BerriUpe Director Patricia Casado, will facilitate the financing of start-ups and start-ups in good conditions: interest from Euribor + 0.75% and up to € 250,000 per project . In addition, there will be a period of 7 years to repay the loan. This will provide the most efficient companies within the accelerator with the guarantee of promoting their innovation projects in the long term.

According to Patricia Casado, "this is a very important alliance, especially for all the projects that reach our accelerator. And I highlight this precisely because of the recognition that ELKARGI has in the market as a financial institution. "This is without a doubt the best way to promote the development of new businesses," says Casado.

Zenón Vazquez, for his part, reaffirmed ELKARGI's position as "a financial ally for companies, the self-employed and entrepreneurs." Being close to their funding needs is part of our raison d’être. This agreement will allow us to deepen our mutual knowledge, which will benefit the business fabric, increase its funding opportunities and create the much-needed new job at the moment ”.

BerriUp is open to registration for the 12th edition of its acceleration program until December 13th. Through this program, a selection will be made of newly created projects with a marketing trajectory. Projects born with the difficulty of this global crisis will be able to take advantage of this beneficial funding condition.

In its six-year life, BerriUp has helped launch 28 companies, creating more than 80 jobs. In recent years, ELKARGI has funded more than 100 entrepreneurial projects, thanks to a new division that is specifically working on this.

Elkargi

Created by and for companies, ELKARGI is a Guarantee Association (SGR) with over 40 years of experience that helps SMEs and the Self-employed to obtain financing on the best terms.

With more than 15,600 member companies, it is the first guarantee association in the country in terms of the volume of guarantees provided, with offices in Bilbao, San Sebastián, Pamplona and Vitoria-Gasteiz.

How does he do it? They listen to your approach, what is your financial need? They also explain how Elkargi works. They collect your accounting data to verify the viability of your project. They will present your construction to the Risk Committee and inform you of the final decision. With your approval and his guarantee, they sign the transaction before a notary.

Advantages

For SMEs and the self-employed: The size of your company doesn’t matter; It gives credibility to your project; It allows for real funding; Investment and circulating, national and international; Prioritize cost and term requirements; Without having to change the financial institution; It allows your entity to increase the assigned risks; Mutual guarantee area specializing in social economy companies.