Friday, November 14, 2008

The new lines of the ICO will benefit 150,000

The Official Credit Institute (ICO) estimates that between 120,000 and 150,000 small business owners and self-employed will be eligible in 2009 for the extension of lines of credit to SMEs approved Friday by the Council of Ministers. The reform envisages to inject SMEs 28,900 million euros, of which 19,000 will go to cover the cash requirements.

The president of ICO, Aurelio Martinez, reiterated yesterday, as it did on Thursday in Valencia before the entrepreneurs of AVE, that this extension of credit will not solve all problems and that may be needed more funding, but stressed that the amount is "very respectable ".

On the other hand, the technicians of Finance estimated that the decision to allow companies to defer income that practice of withholding taxes on the payroll of their workers or the interests of bank accounts, will benefit mainly to banks and large companies, and leave the room for SMEs.

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