Many companies had to apply for an ICO loan during the pandemic to keep their businesses afloat. The Bank of Spain’s Financial Stability Report and statements from the Instituto de Crédito Oficial (ICO) revealed that the delinquency rate of those who requested these guarantees during the health crisis – and other types of loans – “was minimal.” In addition, the president of the ICO, José Carlos García de Quevedo, recently stated in a press conference that the “deferral of payments is around 3.7%.” Given the sound repayment of these state financing mechanisms, the agency presented to this medium the catalog of loans to which RETA affiliates can access in 2023.
When do debts expire in Spain? Deadlines and more
When facing a debt, one of the most important aspects to understand is the prescription period. This period determines when a debt is no longer legally enforceable, and although it…
