years of history
Our reason to be is top ave the way for permanent improvement of the financial conditions and structure of SMEs, self-employed and social economy by means of issuing a guarantee.
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First guarantee. The beginnings of a guarantee, which supports in its early days a Basque production fabric immersed in profound industrial restructuring. It turns out to be a very efficient counterbalance for the high interest rates of the time.
Merger between Elkargi and Seaval: hook-up between the two guarantee-issuing bodies existing in the Country, to strengthen their backing of SMEs in full swing of the reindustrialisation process.
Approval of the new Law on Mutual Guarantee Societies. Following a period of mergers between banks and savings banks in the late 80s, this new Law is passed, converting Mutual Guarantee Societies into financial entities and introducing the counter-guarantee. Multiplying effect for the Elkargi guarantee.
Creation of the Elkargi Consulting and Financial Services Department, today ELKARGI Consulting, the origin of which dates back to the Financial Advice Department introduced in 1990.
In response to the major financial crisis of 2008, the consequences of which are as yet uncertain, and thanks to the close public-private collaboration existing at the time, Elkargi issues guarantees for thousands of working capital operations (Basque Government), partly helping to ease the serious consequences suffered by the local business fabric.
According to all analyses, year of change in trend with the beginning of moderate, unequal and gradual economic growth, in which ELKARGI strengthens its position as leading SGR by volume of guarantees issued, with a revamped brand image and 35 years of experience.
Elkargi embarking a new stage with the merger by Oinarri absorption. The two mutual guarantee company aiming at the new Elkargi that optimizing all its resources and human potential, will continue its efforts to improve the financing of the productive economic environment.