CaixaBank opens a line of credit worth more than €2.5 billion for companies affected by the cold front in the Valencian Community

CaixaBank branch entry

• With this new measure, the bank reinforces its support to the affected municipalities to ensure the continuity of business activity.

• This initiative adds to the one launched by MicroBank, CaixaBank's social bank, with a specific line to support self-employed individuals and businesses

• Additionally, to avoid unnecessary travel, the entity will allow cash withdrawals without commissions for customers with cards from other entities at all CaixaBank ATMs in the province of Valencia.

CaixaBank has enabled an extraordinary line of credit worth more than €2.5 billion for companies in the Valencian Community affected by the DANA (cold front). The bank's objective is to repair the damage caused by the storm and ensure the continuity of business activity in the region.

This new measure reinforces the initiatives that the bank, through MicroBank, has already implemented to support self-employed individuals and small businesses with a turnover of up to €2 million and fewer than ten employees, through an extraordinary line of credit to ensure the continuity of activity with a maximum amount of €50,000 to be paid in 72 months.

These initiatives aim to provide the necessary financial support to companies and businesses that have been affected by the effects of the DANA, thus ensuring essential commercial activity for the economic recovery of the entire region.

In addition to the new measures that the bank has implemented to mitigate the effects produced by the cold front and to stand by those affected, it will also allow commission-free cash withdrawals for customers with cards from other banks for the next 7 days at the 785 ATMs that CaixaBank has in the province of Valencia.

Other support measures for those affected

All these initiatives reinforce the plan of measures that CaixaBank announced last Wednesday for those affected in the Valencian Community, Castilla-La Mancha, and Andalusia, such as the line of credit under preferential conditions that it has made available to its retail clients. This line aims to help those affected repair the damage caused by the floods to their homes and/or vehicles until aid from the Insurance Compensation Consortium arrives.

In this regard, SegurCaixa Adeslas has enabled a dedicated telephone line (+34 900 103 500) to expedite contact with the insurer and, in the case of insured persons who need it, will facilitate the management of insurable claims. Services for vehicle insurance have been specifically reinforced to provide the necessary additional assistance.

Additionally, AgroBank has enabled a line of credit worth more than €300 million aimed at the agri-food sector to help in cases where farms and crops have been damaged and also to advance aid and compensations to rehabilitate the damage caused by heavy rains and the storm.

Actions and measures for solidarity

Moreover, CaixaBank Volunteers are mobilising from different parts of Spain to assist and provide coverage in the municipalities most affected by the DANA to collaborate in priority aid.

The entity has also enabled a free donation platform that is already in operation in favor of Cruz Roja España (Spanish Red Cross) and Caritas Diocesanas de Valencia. Donations can be made through www.caixabank.es and at all of the bank's ATMs. Additionally, contributions can be made through the Bizum number 04057.

CaixaBank also makes its ReUtilízame (ReUseMe) program available for the emergency, which promotes the donation of surplus materials in good condition by companies to social entities in the Valencian Community that may need them.

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