SPAIN’s national government has begun considering ways to throw small businesses a lifeline by deferring rent and mortgage payments for their premises.

Sources from several ministries state that the government is looking to
introduce a payments holiday for the self-employed and small businesses
– including bars and restaurants – to help them weather the coronavirus
storm.

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SIGN OF THE TIMES: Many businesses have been forced to close their doors.

But the difficulty for the national government is that any such move
will have to be green-lighted and administered by the regional
governments.

They in turn are waiting for funds to be released for loans to help
self-employed and small businesses to pay rents, which will have to be
paid back later.

The national government is also looking at the possibility of
temporarily suspending mortgage payments on commercial premises.
One possibility is that payments will be added on to the capital of the
loan to be repaid over its lifetime.

Although the measures are being considered, no concrete proposals have
yet been made.

No time line has been given for a decision to be made, but sone sources have said it will be within two weeks.

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