2023 CAP Aids
The period for requesting the grant and subsidies for the 2023 CAP campaign ended on June 30.
If you direct deposited your CAP into your BBVA account, you will enjoy special financing terms
When you request the aid, you just need to provide a BBVA account. If the aid is for over €3,000 and you're one of the first 15,000 applicants, you will get a €25 fuel gift voucher.
We'll tell you in detail how CAP subsidies work
You can direct deposit your CAP with BBVA until 06/30/2023, and then request financing for the advance on the subsidy through the CAP Advance Agropréstamo, or financing to invest in your farm with the BBVA Agropréstamo loan until 12/31/2023, with no commitment fee. Financing subject to prior approval by BBVA.
- Example of CAP Advance Agropréstamo* for €6,000 taken out on March 10, 2023, paid back in full on 12/15/2023 (assuming the subsidy is received on that date): Variable NIR (3-month Euribor + 2.5%): 5.182%, APR of 5.265%. no commitment fee. Quarterly payment: 1st payment €76.87, next 2 quarters €79.03 in interest and a final payment of €6,025.77 once the subsidy is received in your account. Total amount payable €6,260.7.
- Example of Agropréstamo* loan for €50,000 over 60 months with variable NIR (12-month Euribor + 1.75%) 5.292% APR: 5.398% with no commitment fee. Monthly payment: €1,121.61 Total amount payable €72,756.75.
- Fuel gift voucher* €25 for direct depositing the CAP subsidy for amounts over €3,000 into your BBVA account. Limited to 15,000 vouchers. The Bank will email you a locator to redeem the voucher, indicating the steps to follow to redeem the voucher and use the prize at Grupo Repsol gas stations. This requires that you have a validated email address on record with the Bank. The gross value of the gift voucher is €30, which is considered a capital gain in kind for individuals, and as payment-in-kind interest for legal persons, with this income being subject to a 19% withholding by the Bank.