CAP Advance Agropréstamo loan
Obtain an advance on the subsidy.
How does it work?
If you direct deposit your CAP subsidy with BBVA, you can receive an interest-free advance on the subsidy (0% NIR, from 2.18% APR). 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 2022, you will have until June 30, 2023, for the subsidy to be deposited into your account so you can pay back the loan.
This example will make it clear
Example for a €6,000 loan taken out on February 1, 2022, payable by June 30, 2023:
- Fixed NIR: 0%
- Fixed APR: 2.18%
- Commitment fee (3%): €180
- Amount owed on 06/30/2023: €6,000
- Total amount: €6,180
What conditions do you have to meet?
To request the CAP advance, you have to be rancher or farmer and own a farm that is eligible for the subsidy, and direct deposit the CAP subsidy into a BBVA account.
Would you like more information?
Are you looking for another type of business loan?
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