The Grupo Catalana Occidente will allocate up to 20 million euros to anticipate the turnover of its suppliers affected by the Covid-19 in Spain.
The aim of the insurance group is to help the professionals who are going through difficult moments of liquidity, as a result of the halt in activity established to curb the outbreak. Specifically, the self-employed and small and medium-sized companies that habitually collaborate with the company.
That group, which is normally providing services to their customers, such as home repairs, claims appraisal, car services, workshops and medical services, may benefit from this measure. In total, some 22.300 professionals will be able to request an advance of up to 25% of their annual turnover in 2019, to be returned within 12 months, without interest and with a grace period until October.
In recent weeks the Group has promoted various initiatives to help address Covid-19. Among the measures aimed at alleviating the financial situation of customers, are the extension of dates for payment of bills for those who need them. The Grupo Catalana Occidente has also donated 350,000 euros to the Spanish National Research Council (CSIC) with the aim of promoting research into a future vaccine against Covid-19.
In addition, it has colaborated with others, such as BHH members Opinno and Novartis, to create ‘Beat the Vid‘, an innovation platform that seeks to bring together efforts within the healthcare ecosystem to respond to the challenges posed by this epidemic. The company has also joined forces with Save the Children to assist 100 families whose situation of vulnerability has been aggrevted by the Covid-19 crisis, as they now lack the food resources of school canteens and the company of teachers for their children.