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The agreement signed today with UNDEMUR includes an initial endowment of 400,000 euros that entrepreneurs may request in the form of microloans of up to 25,000 euros.

Ballesta: "The main beneficiaries will be young entrepreneurs they will also receive expert advice, at a key moment for any business as it is the starting point."

The Mayor of Murcia, José Ballesta, President Union of Entrepreneurs Murcianos (UNDEMUR), Pedro Diaz, regional director of Murcia Cajamar, Jesus Lopez, and the regional director of Levante BMN-Cajamurcia, Juan Antonio Campillo, signed today the agreement for the implementation of the line of financial support to SMEs and freelancers who start their business projects in the municipality of Murcia.

Specifically, the agreement includes an initial endowment of 400,000 euros that entrepreneurs can apply as a loan, with the support of 50% of UNDEMUR and affiliated financial institutions also provide economic resources.

"The main beneficiaries will be young entrepreneurs and SMEs of the town you are starting, you may request microloans from 5,000 to 25,000 euros on favorable terms and receive expert advice, a key to the consolidation of any business time as the point of starting, "said José Ballesta.

Thus, the CIM-M Line Embark directed to new entrepreneurs facilitates the financing needed to start the project and also provides companies and independent advice from agents Development Center Municipal Initiatives (CIM-M), "which allow them to streamline and simplify procedures, "said the mayor.

The loan conditions are favorable for entrepreneurs who have 3-7 years to repay the amount, one year grace period and an interest of 2.5%.

They can access funding up to 80 business projects.

In addition, the City Council, through the Economic and Business Service Promotion, has started processing a line of subsidy to cover expenses related to the loan (origination fees and endorsement, notary fees, etc.) so that benefited entrepreneurs obtain aid for the amount of the costs incurred.

Who can access funding?

Any SME or self made or discharged, at most, in the 24 months preceding the application.

This requires part or enroll in the free Murcia Company Launches CIM-M (or not having physical presence in the nursery).

Source: Ayuntamiento de Murcia