Measures of Royal Decree Law 6/2024
Measures to mitigate the effects of the DANA storm that occurred between October 28 and November 4, and the impact on the ability of households, businesses and the self-employed to meet their payment obligations arising from the financing they had contracted with credit institutions and commercial credit institutions, by creating the possibility of requesting moratoriums on such financing. These measures are in addition to those that may be established by the Regional Government of Valencia (Generalitat Valenciana).
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Scope of application
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Application and documents
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Term
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Regulations
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ICO DANA Guarantees Facility for self-employed workers and businesses
- Mortgage Financing: individuals, self-employed persons and companies (in both cases with a turnover in 2023 < €6 million) , whose mortgage guarantee is a property located in the municipalities concerned, listed in the Annex to Royal Decree-Law 6/2024.
- Financing without Mortgage Guarantee: private individuals residing in the municipalities concerned, as well as self-employed persons and companies (in both cases with a turnover in 2023 < €6 million) , whose main economic activity is located in the municipalities concerned, in both cases listed in the Annex to Royal Decree-Law 6/2024.
During the first 3 months after the moratorium is granted, there will be a complete grace period (neither principal nor interest will be paid), and during the following 9 months only interest will be paid.
The financing will extend its final maturity by this period.
You can apply at any BBVA branch or contact your usual BBVA adviser, who will tell you how to proceed, the required documentation to submit and help you clarify any doubts you may have.
You can also contact your branch at its email address, which you can find in the branch locator. If you send an e-mail to your branch, please include MORATORIA DANA + your full ID number in the subject line. A BBVA adviser will contact you as soon as possible.
You must complete and sign the Application Form which will be given to you by the BBVA branch or your usual adviser.
In this case, depending on the financing guarantee and the applicant's activity, there will be an application for mortgage financing, both for homes and for companies and the self-employed, an application for financing without a mortgage guarantee for homes and an application for financing without a mortgage guarantee for companies and the self-employed.
In the case of financing with more than one holder, the application only needs to be submitted and signed by one of them.
In the case of mortgage financing for main residences, the Code of Good Practices Information Document must be signed and provided by the BBVA branch or your usual adviser.
The following must be submitted along with the application:
- Households: census registration certificate or other document proving the applicant's residence in these municipalities, or the same application containing a declaration to that effect.
- Self-employed persons or legal entities (both with invoicing in 2023 <,€6 million ): document proving that their main activity is located in the municipality concerned, or the same application containing a declaration to that effect.
These actions are set forth in the following legislation:
- Royal Decree-Law 6/2024 of 5 November, published in the Official State Gazette on 6 November 2024:
Learn about the new ICO DANA guarantee facility, aimed at self-employed workers and companies, to make it easier for them to access financing in the best conditions.