SONAGAR-SOCIEDAD NAVARRA DE GARANTIA RECIPROCA

What SONAGAR-SOCIEDAD NAVARRA DE GARANTIA RECIPROCA does

SONAGAR — Sociedad Navarra de Garantía Recíproca (Sonagar SGR) is a Navarra-based mutual guarantee society founded in 1980 and regulated by the Banco de España (registry number 9808). It provides personal guarantees to small and medium enterprises and self-employed entrepreneurs in Navarra, enabling access to bank financing at more favorable interest rates and longer terms than direct bank relationships would offer. Its core products are Avales Financieros (financial guarantees for investment and working capital loans, with formalization fees of 0.5% and annual commissions of 0.5%–0.75% on outstanding risk) and Avales Técnicos (technical guarantees required by public administrations), supplemented by free financial advisory and guarantee novation services.

The company monetizes primarily through transaction-based and recurring fees: a 0.5% formalization fee on the guaranteed amount, an annual commission of 0.5%–0.75% on outstanding risk, a 0.25% study fee on guarantee lines, and a compulsory subscription of participation shares (approximately 1%–2% of the guarantee amount). Customer relationships are managed through a combination of in-person advisory at the Pamplona headquarters and the Sonagar Online digital platform (sonagar-online.es), which supports online simulation, application, documentation upload, and existing-client guarantee management.

Sonagar operates a vertically integrated distribution model anchored in deep institutional relationships: the Government of Navarra holds a 20% protective-partner stake through Sodena, and the company is backed by founding partners including Caja Rural de Navarra, CaixaBank, CPEN, and FAPYMEN. As of 2020, it served 2,700 member companies with €206 million in outstanding risk and €29.5 million in own funds, after tripling guarantee activity to €110 million during the COVID-19 response. The market served is exclusively Navarra, Spain.

Name

SONAGAR-SOCIEDAD NAVARRA DE GARANTIA RECIPROCA

Legal name

SONAGAR SOCIEDAD GARANTÍA RECÍPROCA

Website

https://sonagar.es

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Sonagar is a Navarra, Spain-based mutual guarantee society (SGR) regulated by the Banco de España, providing personal guarantees to SMEs and self-employed entrepreneurs to facilitate access to bank financing at better terms; founded in 1980 with 2,700+ members and €206M in outstanding risk.

Ownership category

akta.pro rank

Product category

Mutual Guarantee / SME Credit Guarantees

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Loan Brokers (6163)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

Mortgage & Loan Introducers (Residential & Commercial) (FSAEAMAA)

Keywords

• Mutual guarantee services
• SME financing guarantees
• Reciprocal guarantee society
• Credit guarantee products
• Technical guarantees public tenders

Headquarters

HQ city

Pamplona

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Aval Fees (Annual Commission): Annual commission charged on outstanding guarantee risk (riesgo vivo). For financial guarantees: 0.5% to 0.75% annually on risk outstanding. For technical guarantees: 0.5% annual commission on risk outstanding.
2. Formalization Fee: One-time fee charged upon formalization of guarantees. 0.5% on formalized amount for financial guarantees.
3. Study Fee: Study fee of 0.25% for guarantee lines, charged for processing and analyzing guarantee applications.
4. Participation Shares Subscription: Compulsory subscription of participation shares (participaciones sociales) required to become a member. Financial guarantees require 1 euro per 50 euros (approximately 2% of guarantee amount). Technical guarantees require 1 euro per 100 euros (approximately 1% of amount).
5. Free Financial Advisory: Free financial advisory services provided to customers as part of the value proposition, with no separate charge.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Sonagar is a Sociedad de Garantía Recíproca (mutual guarantee society) registered with the Banco de España that grants personal guarantees to SMEs and self-employed entrepreneurs in Navarra so they can obtain financing at better interest rates and longer terms than through direct bank relationships. Its portfolio consists of Avales Financieros (financial guarantees for investment and working capital loans) and Avales Técnicos (technical guarantees required by public administrations such as the Government of Navarra and Social Security), supported by a free Asesoría Financiera service and an online self-service platform.

Product overview

SONAGAR operates as a Sociedad de Garantía Recíproca (Reciprocal Guarantee Society) offering a portfolio of financial guarantee products. The core offerings consist of Avales Financieros (investment and working capital guarantees) and Avales Técnicos (technical guarantees for public administration requirements). These are complemented by a free Financial Advisory service and Novaciones for modifying existing guarantee conditions. All products are accessible through an online self-service platform (sonagar-online.es).

Differentiator

Problem solved

Functional benefit

Products and services

• Avales Financieros (Financial Guarantees)

Quantifiable outcome

• SMEs and self-employed can access financing at Euribor + 0.50% interest rate through Sonagar guarantees
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• ElkargicoreStrategic or Co-development Partner · 31 March 2020Other major SGR in Navarra. Sonagar and Elkargi collaborate on joint financing programs with Sodena and Government of Navarra. Together they formalized over 1,000 guarantees during COVID-19 pandemic, channeling 150 million euros to SMEs.
• TargobankcoreChannel Partner/ Reseller/ Distributor · 6 June 2019Targobank partnered with Sonagar to provide financing to SMEs with maximum per-holder limit of 100,000 euros and total agreement of 2,000,000 euros. The partnership includes the ANAMAIT association of engineering and technology services companies.
• ANAMAIT (Asociación Navarra de Empresas de Ingeniería)minorChannel Partner/ Reseller/ Distributor · 6 June 2019Association of engineering and technology services companies that partnered with Sonagar and Targobank to provide preferential financing to its member companies with maximum limit of 100,000 euros per member.
• FAPYMEN (Federación de Asociaciones de la Pequeña y Mediana Empresa)coreStrategic or Co-development Partner · 1 January 1980Promoting federation behind Sonagar's founding in 1980. Represents SMEs in Navarra and continues as a protector member supporting the organization's mission to improve SME financing.
• CEN (Confederación Empresarial Navarra)minorStrategic or Co-development PartnerNavarre Business Confederation organizes webinars and events with Sonagar to inform SMEs about financing support instruments. Hosted 'Diálogos CEN' sessions with Sonagar and Elkargi directors.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Others

• Sodena (Sociedad de Desarrollo de Navarra): Sodena is the public development company of the Government of Navarra that works directly with Sonagar on COVID-19 financing programs and innovation support. While not a guarantee provider, Sodena is a key strategic partner and coordinator comparable in its role as a regional economic development vehicle with overlapping SME finance functions.
• Cersa (Compañía Española de Reafianzamiento): Cersa is the Spanish Re-guarantee Company that provides counter-guarantees to all 18 SGRs in Spain, including Sonagar. As a systemic enabler in the SGR ecosystem, Cersa is comparable in that it shares the same regulatory framework and supports SME finance through re-guarantee mechanisms, though at a different level of the value chain.
• Fondo de Garantía de Depósitos: FGD is the Spanish deposit guarantee fund that supports financial system stability. While focused on deposit insurance rather than SME lending, FGD shares the regulatory oversight framework and serves comparable institutional functions in the Spanish financial ecosystem as Sonagar does in credit guarantee provision.

Broad incumbents

• ICO (Instituto de Crédito Oficial): ICO is Spain's national promotional bank that channels public financing to SMEs through partner banks. While operating at a much larger scale and providing direct credit rather than guarantees, ICO shares Sonagar's mission of improving SME access to financing and works through similar bank partnership channels.
• European Investment Fund (EIF): The EIF is a European institution that provides guarantees and counter-guarantees to financial intermediaries supporting SMEs. As a counter-guarantee provider to SGRs through Cersa, EIF operates in the same SME financing ecosystem as Sonagar, though at a supranational scale and with broader mandates.
• SGR-Cesgar: SGR-Cesgar is a Spanish mutual guarantee society serving SMEs nationally, with a broader geographic scope than Sonagar. It operates under the same Banco de España regulatory framework and offers similar guarantee products, representing a larger, more established incumbent in the same SGR ecosystem.

Direct peers

• Elkargi: Elkargi is the other major Sociedad de Garantía Recíproca operating in Navarra, Spain, providing identical financial and technical guarantee products to SMEs and self-employed workers. The two SGRs collaborate on joint financing programs with the Government of Navarra and Sodena, making them the most direct comparable peer in the same geographic and product market.

Emerging players

• Cofides: Cofides is a Spanish state-owned financial institution providing financing for internationalization projects and SME investment. While primarily focused on export financing and larger companies, Cofides shares Sonagar's development finance mission and Bank of Spain regulatory oversight, making it a partial comparable for SME financing activities.
• MicroBank: MicroBank is the social bank of CaixaBank focused on microfinance and financial inclusion for vulnerable groups, self-employed, and small businesses. While operating as a depository institution rather than a guarantee society, MicroBank shares Sonagar's target customer base (SMEs and self-employed) and operates through partner bank channels in Spain.

Regional players

• Avalis: Avalis is a Catalan mutual guarantee society (SGR) providing financial guarantees to SMEs in Catalonia. While operating in a different Spanish region, Avalis shares the same SGR regulatory framework, product structure (financial and technical guarantees), and target customer base (regional SMEs and self-employed), making it a strong comparable for Sonagar's business model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sonagar-sociedad-navarra-de-garantia-reciproca

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SONAGAR-SOCIEDAD NAVARRA DE GARANTIA RECIPROCA