State aid: Commission approves Spanish “umbrella” scheme to support economy in coronavirus outbreak

More specifically, under this “umbrella” scheme, the Spanish authorities will be able to provide liquidity support to self-employed, small and medium-sized entreprises (SMEs) and large companies in the form of direct grants, repayable advances, tax and payment advantages, guarantees on loans and subsidised interest rates for loans.

This is a HUGE deal that will hopefully move things forward and help companies with the incredibly difficult decisions they need to be making today about the futures of their employees and company. Click here to read the full report.

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