Since 2009, there has been a significant reduction in lending from banks to the Spanish economy, intensified during the years 2012 and 2013. In this context, the effect of this reduction on small and medium-sized enterprises (SMEs) is particularly remarked.
The Cortes Generales approved in April 2015 the Ley de fomento de la financiación empresarial, which includes a set of measures with a dual purpose: to make SMEs financing more accessible and flexible, and to move forward in the development of alternative mechanisms of financing.
The Ley incorporates three important developments:
The technical note prepared by Management Solutions’ R&D department analyses the main regulatory developments concerning the financing of SMEs introduced by this Ley, as well as its main implications.
The main changes introduced by the Ley 5/2015 de fomento de la financiación empresarial affect the legal regime of SMEs, mutual guarantee institutions and EFC.
Scope of application:
SMEs, defined as in the Recomendación 2003/361/CE, mutual guarantee institutions and EFC.
Download the technical note by clicking here (only in Spanish).
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© GMS Management Solutions, S.L., 2018. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.