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Fund to support the solvency of strategic companies.

Regulates the procedure for the processing and resolution of applications for temporary public support under the Fund to support the solvency of strategic companies, created by Article 2 of Real Decreto-ley 25/2020, of July 3, on urgent measures to support economic reactivation and employment.

Body Responsible: Spanish society of Industrial Participations

Matter: Subsidies and Grants

SIA code: 2404766

A GUIDE TO APPLYING FOR AID TO THE SOLVENCY SUPPORT FUND

The Management Council of the Support Fund has drafted a Guide to applying for temporary public aid from the Strategic Companies Solvency Support Fund, depending on the eligibility requirements and conditions established by the Agreement of the Council of Ministers, dated 21 July 2020.

ADVANCE INFORMATION REQUEST

Before presenting their appplication, relevant companies may avail of the advance information on the nature and type of these temporary public grants (Annex 0 of the GUIDE).

PUBLIC AID APPLICATION PROCESS

  1. Start: The process begins with the online application by the relevant company  –that, among other requirements, may not be a financial association-, by filling out the form enclosed in Annex I, Application for temporary public aid from the Support Fund, in the "GUIDE"

    The aid application must be accompanied by the following documentation included in the GUIDE:

    • Annex II (statement of compliance that the company is not subject to any of the prohibitions that would make it ineligible for the grant).
    • Annex III (Medium and long-term viability plan of the company).
    • Annex IV (statement of compliance with certain eligibility conditions established to receive the grant).

    The application must clearly state the facts, reasons and requests that demonstrate that it is a reasonable and legitimate petition. The award of the public grant is subject to the fulfilment of certain general conditions and criteria listed in Sections 1 and 2 of Annex II of the Agreement of the Council of Ministers, dated 21 July 2020.

  2.  Processing: The SEPI is responsible for processing and evaluating the submitted applications, prior to their approval by the Management Council of the Support Fund          
  3.  Resolution:  It is the remit of the Management Council of the Support Fund. The authorisation of the Council of Ministers shall be required if the grant application is approved. Applications shall be processed within a maximum of six months from their presentation. The lack of communication after this period shall signify the rejection of the application. The resolutions of the Management Council conclude the administrative proceedings, against which a contentious-administrative appeal may be made (Article 2, Sections 6 and 7, of Royal Decree-Act 25/2020, of 3 July, on urgent measures to support the reactivation of the economy and employment)

    The awarding and disbursal of the grant is conditional upon the approval by the relevant company body of the Temporary Public Financial Support Agreement and the Shareholders’ Agreement, or when applicable, of the Management Agreement with the Company established in the Management Council’s resolution (Section 1.2 of the Agreement of the Council of Ministers).

    All SEPI communications and notifications shall be made through the Notific@ platform, through the Citizens’ Folder when a notice of availability is received by email.