All banks intend to take advantage of the Next Generation EU recovery plan (geu . At stake is an additional business of 125,000 million euros in investment, which is what some banks calculate that will generate the 140,000 million euros of European funds.
Several banks have begun to create teams that will be exclusively in charge of advising SMEs and companies on how to manage and request these funds created to support the economy after the economic crisis derived from Covid.
One of these banks that have already included the advice and management of these European funds in their commercial offer is BBVA. With the aim that companies, SMEs and the self-employed can quickly and easily access public aid, and especially those linked to European Next Generation EU funds, the bank has reached an agreement with Minsait, a company of Indra, to develop a service that will make it possible to identify and manage the subsidies to which the projects of its clients in Spain will be eligible.
“Customers who are interested will only have to inform their BBVA manager of the type of initiative they wish to implement and Minsait will make available to them the possibility of contracting a solution, up to 100% digital in the coming months, which will simplify the processing and monitoring the status of your application “, explain BBVA sources.
The arrival of European funds NGEU will mean an increase in the subsidies that the ministries, autonomous communities and local entities will make available to the Spanish business community. “These grants are a unique opportunity for freelancers, SMEs and companies to tackle projects mainly aimed at digital transformation and the ecological transition of their businesses,” they add from BBVA.
The recovery, transformation and resilience plan called ‘Spain Can’, charged to European funds, will allocate 70% of the aid to digital transformation and sustainability projects (40.3% and 29.6%, respectively). “However, identifying and processing this aid is not a simple process and, in many cases, it is a brake on investment,” they emphasize at the bank.
Through this new solution, Minsait will offer BBVA clients interested in hiring this service a grant application process, up to 100% online in the coming months. In addition, the client may request an offer for the necessary financing that is not covered by the grant. In this way, companies, SMEs and the self-employed will only have to worry about starting their projects.
BBVA explains that the process is simple: the manager informs the client of the grant management service and if the company, SME or self-employed person is interested, Minsait offers the service with advantageous conditions and great agility. From here, a specialized team will manage, from start to finish, all the procedures: reception of the information provided, presentation of applications to the competent official bodies, personalized monitoring of the evolution of applications, information on the resolution and management of the Payment of the subsidy, once the project is finished. All this process can be done through an online portal.
“Thanks to this service, BBVA business clients have a great opportunity to transform their businesses. Digitization and sustainability are fundamental pieces in the Recovery and Resilience Plan presented by the Spanish Government to Brussels. With this agreement, BBVA and Minsait will offer the management of aid and financing necessary for the self-employed, companies and SMEs to bet decisively on digital and sustainable growth ”, says Raul Perez González de Uriarte, NGEU BBVA Spain Office Director.
Borja Ochoa, Managing Director and Global Head of Financial Services at Minsait, highlights that “this agreement between BBVA and Minsait reinforces the relationship of strategic partners of both companies, as well as Minsait’s leadership position in the Spanish financial sector in terms of transformation digital and sustainability. It allows us to contribute in a very significant way to the recovery of the Spanish business fabric, facilitating access to European funds through expert advice and digital management of procedures before the Administration ”.