You just have to pay a 3% opening fee (minimum of €90).
CAP Advance Agropréstamo loan
How does it work?
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If you direct deposit your CAP subsidy with BBVA, you can receive an advance on the subsidy with no interest (0% NIR, APR from 2.65%). You can request the entire amount of the subsidy and return it automatically when the subsidy is deposited in your account.
You will only pay an arrangement fee of 3% of the amount requested. You will have until June 30 of the following year to return the CAP advance. So if you applied for it in 2020, you will have until June 30, 2021 for the subsidy to be deposited into your account so you can pay back the loan.
What conditions do you have to meet?
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To request the CAP advance loan, you must be a farmer and own a holding and be entitled to the subsidy.
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CAP Advance Agropréstamo loan
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