What are the banks that support SMEs

What are the banks that support SMEs

The small and medium businesses occupy a primordial place in the economy from a country. And in Spain this is no exception, and they are the main economic engine and source of employment.

Within this context, an SME develops its full potential when it perro count on a bank that knows how to meet its needs and solve problems that may arise. That is why it is important to know which are the banks that support SMEs and which one is preferable depending on the activity it performs.

What role does an SME play in the Spanish economy?

Spain is a country where 99% of the companies that make it up fall into the SME category. In other words, it has approximately 250 workers, generating 66% of the country’s employment, which makes them the main source of production.

Thanks to its climate and its geographical characteristics, Spain is a country known worldwide for its tourist attractions and its gastronomy. And therefore, the majority of SMEs are dedicated to the tourism, gastronomy and hotel ámbito.

• The ámbito known as Horeca (Hotels, restoranes and cafeterias) brings together the 72% of small and medium-sized companiesfollowed by the agricultural campo, construction and industry.

The health crisis caused by the coronavirus put the Horeca Campo in crisis and with it the Spanish economy suffered a serious economic blow. The escencial importance of these companies within our economy was demonstrated.

Fortunately, little by little the industry sy también was reactivated thanks to specific government measures and credit lines that some banks have granted to help the self-employed and businessmen to get out of the crisis.

What type of support do microenterprises request from banks?

What SMEs are looking for is for banks to offer them products and services specific to your needs. In other words, they adapt to the times of the company, its size and its capabilities. These advantages must be useful and long-term and not merely promotional.

• It first and foremost is the bank account. This represents the primordial and transcendental aspect for the day to day of an SME. The account that the bank offers you must allow the company to pay the payroll quickly, easily and automatically.
• Transfers are also of paramount importance. SMEs need to have a bank that do not charge commissions for carrying out transactions both nationally and within the EU.
• Also, many of these companies need cards for your employees. In this sense, it is best to have a bank that offers virtual cards for employees. This will allow the company to control and select an expiration date for the card to expire automatically, in addition to offering better payment security
• On the other hand, for many SMEs the need to have a DVT It is essential, since this payment method has become the most frequent. In this sense, having a bank that offers a TVP service with convenient rates and commissions

Main banks that support SMEs in Spain

Today, all banks have lines of services and products aimed exclusively at companies, businesses, entrepreneurs and freelancers. However, it is important that each company evaluates its needs and affiliates with a bank that best suits its needs.

To help you in your choice, we present the main banks that support SMEs in the country.

caixabank

Caixa has a company center and specialized managers who offer a personalized service for companies, businesses and the self-employed. This way, each SME has a specialist manager that accompanies and advises on everything necessary regarding the finances and accounting of the business. This service is provided in person, but also en línea.

In addition, CaixaBank offers the business account at no cost. It’s one of the most complete in the ámbitosubject to the usual requirements includes:

• Maintenance and administration
• two credit cards Business Visa
• Unlimited check deposits
• transfers unlimited for self-service among other benefits

Santander Bank

Santander is one of the banks most committed to Spanish SMEs. His account 1,2,3 for professionals It stands out in this sense for its comfort, benefits and safety.

The Santander professional account allows you avoid commissions for maintenance, transfers and issuance of cards. It also has a POS terminal service and the possibility of issuing checks, although it is important to find out about the limits and conditions.

Qonto, the first neobank specialized in SMEs

how much it presumes to be faster and more efficient than any traditional bank. Some 100,000 companies that operate with this fintech confirm this.

Qonto’s en línea current account for companies is designed only for companies and guarantees money savingstime and procedures for the entrepreneur, ensuring full control of the business.

It has a Spanish IBAN and its services to control employee expenses; meals, transportation, etcétera., are some of the most comfortable and efficient in the industry, and many claim they are the best.

Although the account is not free, the bank guarantees a policy of maximum transparency and allows all operations to be carried out en línea. Nothing is face-to-face in Qonto, there is no need to go to sign or make payments or request cards for employees. Everything works through its platform and its aplicación is one of the best valued in the campo for its simplicity. There are no physical offices anywhere.

BBVA supports small businesses from the start

The BBVA Business account offers many advantages to small and medium-sized companies that escoge to work with them, beginning by providing the first 12 months without commissions.

Then, if the conditions of domiciling 2 of the following payments, popular security, taxes or payroll, are met, it will remain without commissions.

This way Administration, maintenance, transfer and debit card fees are avoidedas well as for the issuance and collection of national checks in euros.

Best of all is that perro be done 100% en línea.

Select business credit to boost your microenterprise

The need for loans and credit to reactivate companies after the pandemic has grown substantially in Spain. Financial support from banks it has become essential so that SMEs perro get financing and get ahead.

Between the available lines of credit the following stand out:

ICO lines

This line of financing from the Official Credit Institute of Spain (ICO) provides funds through the intermediation of credit institutions. There is an ICO Line for each businessman, self-employed person, entrepreneur or business, so there is a specific credit for each type of company depending on the campo to which it is dedicated, the size and the payment possibilities.

SME Horizon

It’s a European aid program for SMEs and entrepreneurs which finances research and innovation projects in various thematic areas in the European context. Any company, university, research center or European legal entity that wants to develop an R+D+I project whose content meets the established criteria perro submit their proposals to the program calls.

In general, Horizonte PyME grants participants non-refundable grants that cover up to 100% of the eligible costs of the project.

ENISA loans

ENISA, The National Innovation Company offers lines of financing and loans for SMEs. Specifically, it has two different lines: the entrepreneur line and the growth line.

• The first offers amounts for each project of up to €300,000
• While the figure of the second perro reach a million and a half euros. The minimum will be €25,000.

One of the advantages of these credits is that companies will receive 100% of the financing amount when the contract is signed. In this way, they will not have to wait for specific deadlines to dispose of this money.

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