BBVA and Minsait simplify the process for applying for Next Generation EU funds for companies, SMEs and the self-employed in Spain
With a view to helping companies, SMEs and the self-employed obtain fast and simple access to public aid, in particular those associated with the Next Generation EU funds, BBVA has reached an agreement with Minsait, an Indra company, to develop a service that helps to identify and manage the subsidies its customers can apply for in Spain. Customers interested in applying must simply inform their BBVA manager of the type of initiative they are looking to start and Minsait will provide them with details of the possible solution, completely online in the coming months, which will simply the process for handling and monitoring their request.
The arrival of the Next Generation EU (NGEU) funds will represent an increase in subsidies, which ministries, autonomous communities and local authorities will make available to the Spanish business fabric. These subsidies represent a unique opportunity for the self-employed, SMEs and companies to undertake their projects related to the digital transformation and the ecological transition of their businesses. In fact, the recovery, transformation and resilience plan known as "España Puede" (Spain Can), financed with European funds, will allocate 70% of the aid received to digital transformation and sustainability projects (40.3% and 29.6%, respectively). However, identifying and processing this aid is no mean feat and, in many occasions, will put the brakes on investment.
The arrival of European funds represents an opportunity to implement energy criteria in the country's older buildings. In Spain, 3.4 billion euros will be dedicated to residential rehabilitation, making it possible to reduce CO2 emissions and foster the green economy. "At BBVA, we develop turnkey solutions, with help from strategic partners, allowing homeowners' associations to forget about property rehabilitation processes", asserts Gonzalo Rodríguez, BBVA Business Development Director for Spain. This way, the bank is looking to facilitate the end-to-end management of subsidies, projects and financing to promote the modernization of Spain's building stock.
As part of this new solution, Minsait, will offer BBVA customers interested in contracting this service with a subsidy application process, which will potentially be completely online in the coming months, including information on aid, to the processing, monitoring and final resolution of the application. Furthermore, customers can ask BBVA for an offer for the necessary funding if they are not eligible for the subsidy. This way, companies, SMEs and the self-employed can dedicate their efforts to getting their project off the ground.
The process is simple: the BBVA manager informs the customer of the subsidy management service and if the company, SME or self-employed person is interested, Minsait offers them the service at beneficial conditions and at great speed. From then on, a specialist team will handle, from start to finish, all the processes: receipt of the information submitted, submission of applications before the competent authorities, personalized monitoring of progress with applications, information on the resolution and handling of the subsidy's payment, once the project comes to an end. This entire process can be performed through an online portal.
“Thanks to this service, BBVA's business customers have an amazing opportunity to transform their business. Digitalization and sustainability and core parts of the Recovery and Resilience Plan submitted by the Spanish government to Brussels. As part of this agreement, BBVA and Minsait will manage the aids and funding required for the self-employed, companies and SMEs to make a staunch commitment to digital and sustainable growth", emphasized Raul Perez González de Uriarte, NGEU Branch Director for BBVA Spain.
In turn, Borja Ochoa, CEO and Global Head of Financial Services at Minsait, has emphasized that "this agreement between BBVA and Minsait enhances the strategic partner relationship between both companies, in addition to the leadership position of Minsait in the Spanish financial sector in terms of the digital transformation and sustainability. This helps us to make a very significant contribution to the recovery of the Spanish business fabric, facilitating access to European funds through expert advice and the digital management of formalities before the Administration".
Minsait, a leader in the transformation of businesses
Minsait, an Indra company, is a leader in digital and information technology transformation consultancy in Spain and Latin America. Minsait offers a high degree of specialization and sector knowledge, which combines with its high capacity to integrate the core world with the digital world, its leadership in innovation and digital transformation and its flexibility. Thanks to this, it focuses its offer on high-impact value proposals based on end-to-end solutions, with significant segmentation, meaning it can achieve tangible impacts for its customers in each industry as part of a transformational approach. Its capacities and leadership are reflected in its range of products, under the name Onesait, and its cross-cutting service proposal.