Moratorium application for the transportation sector
At BBVA, we can help reduce the impact of coronavirus
On July 7, Royal Decree Law 26/2020 was published, which includes a moratorium for the transportation industry.
If you are self-employed or a company, you transport goods or passengers and your business has a loan, lease or rental contract with BBVA associated with a vehicle with a MAM in excess of 3.5 tons, you can request a deferral on your payments of up to 6 months. During that time, you would only pay the part of the loan corresponding to the interest.
If the moratorium is approved, you can prolong the maturity date for as many months as you defer the payments. You can also keep the original period and adjust the amount of the payments to compensate for the months in which you would not make a payment.
- Terms and Conditions
Eligibility requirements for the moratorium
- Be self-employed or a company with a tax and registered address in Spain.
- Carry out the activity in Spain.
- Have experienced a reduction in income or turnover between March and May of at least 40% on average compared to the same months in 2019.
- Engage in the occasional transport of passengers or goods (occasional transport is considered to be that which is not governed by a predetermined itinerary, calendar or schedule).
- Have a loan, lease or rental contract with BBVA (in force before July 9, 2020) to finance a vehicle used to transport people or goods with a Maximum Authorized Mass in excess of 3.5 tons.
How do I make a request?