Galicia

The bank and the grouping of entities in the tourism sector renew their collaboration and activate financing options adapted to the economic situation generated by the COVID-19 crisis
The financial entity meets the demands of the Cluster at a critical moment and offers products with long repayment terms, shortages and low interest

ABANCA and the Galician Tourism Cluster have just given a new impulse to their collaboration in financial matters with the signing this morning of a collaboration agreement by virtue of which the bank and CTG focus on offering credit alternatives to businessmen in the Galician tourism sector.
Thus, the new agreement signed this morning in the City of Culture of Galicia between the director of ABANCA’s Commercial Network, Gabriel González Eiroa, and the president of the Tourism Cluster of Galicia, Cesáreo Pardal, incorporates special financing solutions to face the effects of the pandemic.
In this sense, the president of the CTG highlighted the good response of banking entities such as ABANCA to a situation that is producing such a serious setback in the industrial tourism fabric of Galicia. Hence the importance “of having the support of ABANCA, which offers a direct response to the current needs of the group, which are very marked by the health crisis and its economic effects”.

Specific solutions for the sector

As stated in the agreement signed this morning, the financial institution offers the official ICO COVID-19 funding lines, as well as the Xunta’s Igape COVID-19 programme. But, in addition, the new agreement offers to the companies and tourist associations that are included in the Cluster a wide variety of products designed to improve their competitiveness through new investments. The document includes solutions such as personal and mortgage loans or furniture leasing, all of which have long repayment periods, the possibility of including shortages and very competitive interests.
For its part, the new text also responds to the most immediate needs, which allow to adapt to the demands of the daily activity. Tourism companies will have at their disposal products and services such as credit policies, commercial discount lines, guarantees, confirming or factoring.

Access to programs and services
Beyond financing, the text includes personalized rates for the registration and maintenance of POS devices, with a 0.20% commission. In addition, they will be able to access other services that ABANCA makes available to this group such as ‘Appúntame’, to easily manage any type of fees, direct debits or subscriptions, the Online Broker or ABANCA Pay, among others.
In the same way, the members of the cluster will be able to access the advantages of the ABANCA Zero Commissions Program, which allows them to stop paying for account and card maintenance, but also for transfers, check deposits or other usual services.

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