Why the Official Credit Institute (ICO) has a business obstacle, especially in the Canary
Author: David Y. Chin
Difficult access to finance, together with the fall in consumption, remains the main obstacle to doing business in the Canaries. In fact, 85 percent of Sees who applied for credit in the first quarter of this year found it difficult, according to the Survey of the Chambers of Commerce on Sees access to external financing.
Financial lines opened by the Official Credit Institute (ICO) have barriers, since for nearly 94 percent of the companies; the procedures for accessing credit are too cumbersome ICO, explained in a statement the Chamber of Commerce.
To learn the new steps taken by the State Government in order to eliminate the barriers of access to lines ICO and its various funding programs, the Chamber of Commerce, Industry and Navigation of Santa Cruz de Tenerife and have organized a meeting CajaCanarias business who will be CEO of ICO Business, Home Rosario Cheery.
In Day, to be held this Friday at the Assembly Hall of the Chamber of Commerce from 12:30, general director of the ICO Business gives you all the information on preferential financial lines for businesses and report on the new direct credit line for Sees and freelancers.
Among the innovations that will be placed on the table of this conference is the measures taken by the State Government to remove barriers that currently exist to ensure the granting of credit ICO, a new mechanism, as announced will enable the Official Credit Institute direct loans amounting to 200,000 euros and hedging 100 per cent from next June 15.
In this sense, the president of the Chamber of Commerce of Santa Cruz de Tenerife, Ignacio Gonzalez Martin, ICO considers that the lines doing their job as long as they correct the tangle of requirements which, at present, are being trapped Sees increasingly seeking access to financing ICO.
He explained that the shortage of financial resources is a major problem, which endangers not only the investment projects or expansion of small and medium enterprises, but also its own continuity.
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