Banco BIC provides $100 million to support the hotel and restaurant sector

The Association of Hotels, Restaurants and Similar Services of Portugal (AHRESP) and Banco BIC yesterday celebrated a partnership, which establishes […]

bic and arhesp bankThe Association of Hotels, Restaurants and Similar Services of Portugal (AHRESP) and Banco BIC celebrated yesterday a partnership, which establishes preferential conditions in financial products and services, destined to HORECA establishments (hotels, restaurants and beverages).

Under this agreement, «all AHRESP members who are Banco BIC customers will benefit from exclusive conditions that are very competitive in relation to the market», revealed that bank.

In this context, among other initiatives, the Bank will provide a specific credit line up to the amount of 100 million euros, ensuring preferential treatment in access, and more favorable conditions, in the concession.

AHRESP and Banco BIC intend, within the scope of this protocol, "to make available new instruments for the recovery, dynamization and development of business, and a comprehensive offer of financial products and services that provide a better management of the companies' treasury, and of their transactions, as well as support for investment projects, whether for modernization or expansion of activities», adds the bank, in a press release.

In short, this partnership represents a contribution to the strengthening of the business fabric and to the maintenance of quality standards in the Hotel, Restaurant and Beverage sectors, fostering an important increase in productivity and competitiveness of the Portuguese economy.

As stated by Mário Pereira Gonçalves, president of AHRESP, “we recognize that the recovery and success of our companies also depends on the support of an important financial institution. For this reason, we entered into this partnership with Banco BIC, which establishes unique conditions for our members, who, in the final analysis, are decisive for the development of a sector, whose weight and influence have an impact on the national economy”.

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