TheFreelancers and Spanish companies have received 420,717 loans amounting to 53,610 millioneuros endorsed by the Official Credit Institute (ICO) until last Wednesday, May 20, within the framework of the ICO Lines program of up to 100,000 million euros launched by the Government as a support measure for the Covid-19 crisis.

As reported by the Ministry of Economic Affairs and Digital Transformation, theamount guaranteed so far amounts to 40,747 million euros, which has allowed channeling financing for more than 53,600 million.

Most program operationsfocus on SMEs and freelancers, a total of 412,684 (98% of the total), with a guaranteed amount of 28,614 million euros, which has allowed this group to have received 35,832 million euros to cover their liquidity and currency needs.

In addition, 74% of the approved operations correspond to self-employed companies or micro-SMEswith less than ten employees, while the largest companies have received 17,777 million in financing, through 8,033 operations guaranteed with 12,133 million euros.

89% of the operations have been destined to guarantee new loans, most of them (86.3%) in the long term, between four and five years.

Tourism, the sector that receives the most

The companies that have received the highest volume of financing are those in the tourism, leisure and culture sector, with 8,606 million euros through 82,324 loans granted.

They are followed byconsumer goods and trade sectors, with 42,701 credits and 3,444 million euros of financing, and construction and infrastructure, with 40,411 operations and 5,618 million euros financed.

Until now,the government has unlocked four tranches of the € 100 billion program, which amount to 80,000 million euros in total, to which 4,000 million euros are added to guarantee the issuance of promissory notes in the Alternative Fixed Income Market (MARF) and 500 million euros to reinforce the reavalure that Cersa grants to the Reciprocal Guarantee Societies.

Autonomous communities

According to the data by region,Catalonia is the community with the highest number of guaranteed operations registered, with a total of 77,601 credits approved, which have allowed their companies to receive financing amounting to 9,744 million euros; followed by Andalusia, with 64,523 credits and financing of 5,818 million euros, and the Community of Madrid, with 54,011 operations and 10,596 million financing.

Behind,the Valencian Community has registered 44,946 operations and 5,561 million financing, Galicia 23,819 credits and 2,438 million, Castilla y León 19,508 operations and 1,796 million, Canary Islands 17,614 operations and 2,109 million, Castilla-La Mancha 15,252 credits and 1,477 million, Basque Country 13,130 operations and 3,147 million, Murcia 13,101 operations and 1,567 million, Aragon 10,995 loans and 1,300 million, and the Balearic Islands 10,002 operations and 1,821 million euros.

On their side, the Autonomous Communities that have presented less than 10,000 operations are Extremadura, with 8,883 credits and 741 million; Asturias, with 8,193 operations and 1,056 million; Navarra, with 4,930 operations and 799 million; Cantabria, with 4,684 loans and 444 million; La Rioja, with 2,866 operations and 364 million, and Ceuta and Melilla, with 852 operations and 58.3 million euros.