Each euro guaranteed by the autonomous community became 7.7 euros of financing for SMEs
The Government increased its guarantees on the guarantees granted by ISBA, SGR, by 12.96 % in 2024 and reached 14 million euros, thus maintaining the growth of recent years, since in 2021 it guaranteed around three million euros. In this way, each euro revalued by the Government becomes 7.7 euros of financing for small and medium-sized companies in the Balearic Islands, as part of the policy of facilitating access to credit for SMES through the Balearic mutual guarantee company, ISBA, SGR.
The outstanding risk of the CAIB revalue granted at 31 December 2024 exceeds 31 million euros, which represents a significant increase over the previous year (+36.72%), when it was close to 23 million euros. This is more than double the figure recorded in 2021 (120.10 %), when it closed at 14.1 million euros.
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The Government increased its guarantees to ISBA by 13 % in 2024
For her part, in the framework of the direct subsidy policy for SME financing operations, the director general of the Treasury, Financial Policy and Assets, Susana Pérez, stressed that the call for aid for CAIB-ISBA financial costs, financed with European Funds, has experienced notable growth in recent years. ‘In the current call, 2024-2025, the commitment has been multiplied with a biannual proposal of 21.8 million euros that has given much more stability to companies,’ Pérez stressed.
It should be remembered that, in addition, new categories of aid have been created in this latest call, such as investments in innovation, digitisation and sustainability, or movable investments with financial leasing (leasing).
In 2024, almost 100 million euros were formalised in financial operations within the ISBA-CAIB line of aid. The data certify the greater weight of business investment, which increased last year to account for more than half of the total. The trend continues at the start of 2025, with data up to the end of March, with investment outstripping liquidity. Likewise, the average amount of aid also increased in 2024, mainly due to investments of 11,674.85 euros, in a trend that is maintained at the start of 2025.
68 % of the aid beneficiaries were SMES and the rest were self-employed. Most were concentrated in Mallorca (84 %), with 8 % in Menorca, 7 % in Ibiza and 1 % in Formentera. The operations, which had an average interest rate of 5.09%, were concentrated in 2024 in trade and repair of motor vehicles (22.9%) and hotels and restaurants (20.2%), although the latter is more prominent in the first tranche of 2025, with 30.5% of operations.
On the other hand, Pérez stressed that the report of the Independent Authority for Fiscal Responsibility (AIREF) published last March has highlighted that ‘the Balearic Islands have the highest percentage of companies that benefit from the public bailout about the weight of the Balearic business fabric in the Spanish economy, along with the Basque Country, Castilla y León and Galicia’.