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Finance & Economics

Santander guarantees multibillion support due to coronavirus outbreak

Mar 10, 2020

The bank provides short-term liquidity for sectors, affected by a coronavirus

Santander

Santander guarantees multibillion support due to coronavirus outbreak. Source:?shutterstock.com

Santander Spain has announced the activation of the business aid protocol. This way, the bank offers SMEs (small and medium-sized enterprises) and self-employed workers a liquidity facility of pre-approved loans amounting to €20 billion, with interest due within one year.

Since the coronavirus contagion may have negative impacts on the economy and normal business operations, the bank aims to mitigate them. Santander will offer affected companies more flexibility in cash flow management, as well.

In addition, the bank is also committed to analyzing customers’ needs for funding, regardless of their sector of activity.

In these uncertain times, Santander wishes to be close to Spanish companies, especially SMEs, by supporting them and looking for solutions to their potential problems. We are their bank, the bank for SMEs, because we are with them whatever the situation
Rami Aboukhair, chief executive officer of Santander Spain

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