The City Council of Paterna, via Paterna City of Business, has signed a preferential financing agreement with Caixa Popular for those companies in Fuente del Jarro Industrial Estate that were affected by the fire on February 8, originated in the facilities of the chemical products company Indukern and that ended up affecting almost a dozen adjoining warehouses.

The incident has caused serious losses of assets that is affecting the reactivation of the economic activity of these companies. Given that in most cases the processing of insurance companies is long, this agreement allows access to two lines of financing:

For reconstruction and financing of facilities (warehouses) Total amount of the line up to 10 million euros:

• Term: up to 12 years including possible grace period of up to 18 months
• Interest rate: fixed rate 3.50%
• Opening: 50%
• Early amortization: 0%

Acquisition of machinery and equipment goods line: Total amount of the line 5 million euros:.

• Term: 7 years maximum including 12 months grace period
• Interest rate: fixed rate 3.95%
• Opening: 0%
• Early amortization: 0%

In both cases, the possibility of a deficiency frees applicants SMEs from excessive financial burdens to facilitate that the companies affected can return to their pre-incident production levels in the shortest possible time. On the other hand, the setting of a null early cancellation commission will allow them, once the corresponding indemnities have been collected, the partial or total cancellation of the loans.

Juan Antonio Sagredo, Mayor of Paterna and President of "Paterna City of Business, has stated that:" In cases like this, we must act as soon as possible because we cannot allow a fortuitous accident to leave, even temporarily, a large number of workers on the street ”. The collaboration relationship that “Paterna City of Business” maintains with the Caixa Popular entity, has enabled this preferred line of financing to be implemented for those who wish to take advantage of it.