By Jessica Sier

 

Santander Spain, the Spanish operations of Banco Santander SA, said Tuesday that it will offer 20 billion euros ($22.8 billion) in pre-approved loans for small businesses and self-employed people affected by the coronavirus.

Interest for the loans is due within one year and they are available for people operating in sectors affected by the outbreak and who may need more flexibility in cash-flow management.

"With this short-term liquidity facility, the bank will help to mitigate the impact that containment measures to protect the population against the coronavirus contagion may have on the economy and normal business operations," the bank said.

 

Write to Jessica Sier at jessica.sier@wsj.com

 

(END) Dow Jones Newswires

March 10, 2020 07:37 ET (11:37 GMT)

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