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Sequía Loan

A loan to cover the costs of growing crops, buying animal feed, and other livestock expenses

A loan designed for farmers and ranchers
  • Tailor each installment on a monthly, quarterly, semi-annual, or annual basis.
  • Up to a maximum term of 6 years.
  • No early repayment penalty
  • Choose between a fixed, variable or hybrid interest rate.

Main features

  •  

    • In the short term, this financing is mainly to cover expenses for crop cultivation and the purchase of fodder and other livestock feed.
    • Interest rate: you can choose between fixed, variable and hybrid rates.
    • Term of payment: up to a maximum of 6 years. The first will be interest only.
    • Installment payment: monthly, quarterly, half-yearly or yearly.

Benefits

  • The term and having the interest-only period allows you to meet the expenses of the harvest season in 2024 and to spread the repayment out over the following seasons. Farmers can use it to cover the high cost of fodder caused by price increases. They can then gradually repay the loan with their regular income in the coming years.

    Installments can be paid on a quarterly, half-yearly or yearly basis, depending on the seasonal nature of your business income.

What are the necessary requirements?

  • To obtain the Sequía Loan, you must meet the following conditions:

    • Engage in agricultural or livestock activity.
    • Having an account at BBVA. If you do not have an account open at BBVA, ask us about the available options and their economic conditions.

    *The granting of the loan is subject to prior authorization by BBVA, your adviser will inform you of the documentation you must submit for the study of this loan.

This example will make it clear

  • Example for a loan of €50,000 for 72 months with a variable interest rate:

    • Interest rate: 5.700%
    • APR: 6.136%
    • Repayment: annual
    • Variable interest: 12-month Euribor 
    • First repayment payment: €8,333.33 principal + €708.61 interest = €9,041.94.
    • Last repayment amount: €8,333.35 principal + €118.42 interest = €8,451.77.

    Example calculated, taking the 12-month Euribor on 09/28/2023

     

What are the main costs involved?

    • Commitment fee: we apply it to the contracted amount only once.
    • Early repayment fee (partial or full): exempt.

    Both the interest rate and the fees depend on various factors. Ask your adviser to calculate a quote for you according to your personal situation.

Request Sequía Loan

Would you like more information?

BBVA will maintain this offer from the date of delivery of this form until the last day of the current month. From that date, the conditions may change. Check the new conditions at bbva.es or ask your BBVA Manager.

Are you looking for another kind of financing for your business?

If this is not the product you were looking for, don't worry. We'll help you choose the one that best suits your needs with our financing adviser.

You might also be interested in

  • Get an advance of the grant by arranging for your CAP to be paid into your BBVA account. You can also request the whole amount.

    *Product available for businesses with a turnover under 5 million euros.

Be a BBVA customer.

  • At BBVA, we want to help you grow your business by offering the financing you need.
  • We are working to make your life a little easier with our digital solutions.
  • Our approach is based on transparency, clarity and responsibility.

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Sequía Loan