In 2024, 0% commitment fee if you direct deposit the CAP in a BBVA account.
CAP Advance
Anticipate CAP payments and boost your farming business
- Apply for the CAP advance with no commitment fee.
- Interest rate: quarterly Euribor + 1.5%.
- No fee for early repayment of the loan.
When you direct deposit your CAP with us, you will have liquidity for your day-to-day farming operations.
Deadline for direct deposit of CAP
The deadline to direct deposit the 2024 CAP ended on 06/15/2024.
How does the CAP advance loan work?
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If you direct deposit your Common Agricultural Policy subsidy at BBVA, you will have a CAP advance available. You can request 100% of the amount and return it automatically when the subsidy is deposited in your account.
No commitment fee if you direct deposit your CAP aid into a BBVA account. You will have until June 30 of the following year to return the CAP advance. So if you applied for it in 2024, you will have until June 30, 2025, for the subsidy to be deposited into your account so you can pay back the loan.
This example will make it clear
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Example for a €22,000 loan taken out on February 2, 2024, paid back in full on December 15, 2024 (assuming the subsidy is received on that date):
- Variable NIR: 5.4%.
- APR: 5.3512 % (3-month Euríbor + 1.5%)*.
- Commitment fee: €0.
- Appraisal fee: 0%.
- Quarterly installment: 1st quarter: €297. Following 2 quarters: €303.60 for interest.
- Final installment: €22,132 when the subsidy is received in the account.
- Total amount to be returned: 23.036,20 €.
* From 02/02/2024.
What conditions do you have to meet to advance the CAP?
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To request the CAP advance, you have to be rancher or farmer and own a farm that is eligible for the subsidy, and direct deposit the CAP subsidy into a BBVA account.
*Product available for businesses with a turnover under 5 million euros
Would you like more information?
Are you looking for another kind of financing for your business?
If this is not the product you were looking for, don't worry. We'll help you choose the one that best suits your needs with our financing adviser.
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Be a BBVA customer.
- At BBVA, we want to help you grow your business by offering the financing you need.
- We are working to make your life a little easier with our digital solutions.
- Our approach is based on transparency, clarity and responsibility.
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BBVA may suggest that customers find out about the necessary process to apply for different types of public aid and/or subsidies through various partners, who, at the direct request of the customer, will do approximate calculations based on legal sources from official publications and/or bulletins issued by government agencies, as participants in the various programs for channeling funds. The aim is to provide customers with useful tools to detect their potential additional financial needs. However, awarding and accessing these grants and subsidies does not depend on BBVA but rather the suitability of each applicant and the eligibility of each customer or each investment project submitted. Please note that each Autonomous Community, local entity or participating public body may modify the application or award criteria.
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