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ICO 2020 financing lines

The new ICO 2020 financing lines for companies and entrepreneurs are now available.


I.- ICO Companies and Entrepreneurs Line


Term: Until 31-12-2020
Where can you requestr: Credit Institutions that collaborate with the ICO.
beneficiaries: Financing aimed at freelancers, companies, public and private entities, both Spanish and foreign, to undertake their business activities and / or cover their liquidity needs within the national territory.
Individuals and communities of owners can also request financing from this product exclusively for the rehabilitation of their homes.
Bankable concepts:
- Business projects and / or liquidity needs within the national territory.
- Rehabilitation of homes and buildings
Maximum amount per client and year: 12,5 million euros.
Mode of operation: loan, leasing, renting or line of credit.
Amortization and grace period: From 1 to 20 years with the possibility of up to 3 years of grace period depending on the terms.
Commissions: the Credit Institution may charge a single commission at the beginning of the operation, in addition to, where appropriate, the early repayment.
Type of interest: fixed or variable plus the margin established by the credit institution according to the repayment term.
Warranty: to be determined by the Credit Entity with which the transaction is processed, unless guaranteed by SGR / SAECA.


II.- ICO line SGR / SAECA Guarantee


Term: Until 31/12/2020.
Where can you request: in the SGR, in SAECA or collaborating Credit Institutions.
beneficiaries: Self-employed, companies and public and private entities that have the endorsement of a Reciprocal Guarantee Company (SGR) or the State Anonymous Agrarian Surety Company (SAECA), to undertake their business activities and / or cover the general needs of the activity in Spain or outside the national territory.
Bankable concepts: Business projects and / or liquidity needs inside and outside the national territory.
Maximum amount per client and year: 2 million.
Format: loan, leasing or line of credit.
Type of interest: fixed or variable, plus the margin established by the Credit Institution according to the repayment term.
Amortization and grace period: From 1 to 15 years with the possibility of up to 3 years of grace period depending on the terms.
Commissions: SGR / SAECA may charge a study commission of up to 0,5% on the amount guaranteed. Additionally, the SGR may charge a mutual social fee of up to 4% on the amount guaranteed. In addition, the Credit Institution may charge a single commission at the beginning of the operation and, where appropriate, the early amortization.
Warranty: To be determined by the credit institution and / or the SGR or SAECA.


III.- ICO Commercial Credit LINE

Term: Until 31/12/2020.
Where can you request: Credit Institutions that collaborate with the ICO.
beneficiaries: self-employed and companies with registered office in Spain that wish to obtain liquidity by paying the amount of invoices originating from their commercial activity within the national territory or to cover the previous costs of production and preparation of the goods to be sold in Spain.
Maximum amount per customer: up to 12,5 million euros of outstanding balance per customer and year, in one or more operations.
Mode of operation: type of financing contract agreed by the client and the Credit Institution
Type of interest: Variable rate, plus the margin established by the Credit Institution.
Commissions: the Credit Institution may charge a single commission at the beginning of the operation, in addition to, where appropriate, the early repayment.
Warranties: To be determined by the Credit Institution with which the operation is processed.


IV.- ICO EXPORTERS LINE

Term: Until 31/12/2020.
Where can you request: Credit Institutions that collaborate with the ICO.
beneficiaries: Financing aimed at freelancers and companies with registered office in Spain that wish to obtain liquidity by means of the advance of the amount of the invoices coming from their export activity or to cover the previous costs of production and processing of the goods to be exported.
Maximum amount per customer: up to 12,5 million euros of outstanding balance per customer and year, in one or more operations.
Mode of operation: type of financing contract agreed by the client and the Credit Institution.
Type of interest: variable rate, plus the margin established by the Credit Institution.
Commissions: the Credit Institution may charge a single commission at the beginning of the operation, in addition to, where appropriate, the early repayment.
Warranty: to be determined by the Credit Institution with which the operation is processed.


V.- ICO INTERNATIONAL LINE 2020


Term
: Until 31/12/2020
Tranche I Investment and Liquidity: Self-employed, public and private companies and entities, both domiciled in Spain and abroad that have at least 30% of Spanish company capital or "Spanish interest" and wish to finance their business activities and / or investments, liquidity needs or expenses abroad through an International financial institution or a local credit institution with which ICO has a collaboration agreement to finance companies that operate in its territory.
Tranche II Medium and Long Term Exporters: Companies with registered office in Spain or outside of Spain "with Spanish interest" that sell or acquire goods or services with payment deferral and need to request a supplier, buyer or complementary financing credit to companies through an international financial institution or an entity local credit facility with which ICO has a collaboration agreement to finance companies operating in its territory.
Where to request it: Through Credit Institutions.
Maximum amount per customer: up to 12,5 million euros or its equivalent in dollars (USD) for Tranche I and up to 25 million euros or its equivalent in dollars (USD) for Tranche II.
Bankable concepts:
Tranche I Investment and Liquidity: Business projects / or liquidity needs outside the national territory.
Tranche II Medium and Long Term Exporters:
- Supplier Credit: financing to companies with registered office in Spain for the sale of goods or services, to companies with registered office outside of Spain.
- Buyer Credit: financing to companies with registered offices outside of Spain, for the acquisition of goods or services exported by companies with registered offices in Spain or companies with registered offices outside of Spain that have a "Spanish interest".
- Complementary Financing: financing to the foreign company that acquires the Spanish goods or services, which has not been fully covered with a Buyer Credit.
Format: loan, leasing for Investment and Liquidity. Loans for Medium and Long Term Exporters.
Type of interest: fixed or variable rate (euro or USD dollar), plus the margin established by the Credit Institution according to the repayment term.
Amortization and grace period:
- Tranche I Investment and Liquidity: from 1 to 20 years with the possibility of up to 3 years of grace period depending on the terms.
- Section II Medium and Long-Term Exporters: from 2 to 12 years with the possibility of up to 3 years of grace period depending on the terms.
Commissions: the Credit Institution may charge a single commission at the beginning of the operation; in addition to, where appropriate, the early amortization. In Section II, in addition to the above, you may charge an additional study / opening commission.
Warranties: To be determined by the Credit Entity with which the operation is processed, unless guaranteed by SGR / SAECA.


VI.- ICO CANAL International Line

Term: Until 31/12/2020
beneficiaries:
- Investment and Liquidity: freelancers, companies and public and private entities, both those domiciled in Spain and those domiciled abroad that have a Spanish interest.
- Medium and Long-Term Export: companies with registered offices outside of Spain that acquire goods or services with deferred payment, both from companies with registered offices in Spain and outside Spain that have a Spanish interest.
- Likewise, companies with registered office in Spain or outside Spain with Spanish interest that sell goods or services, with payment deferral, to companies with registered office outside Spain may also request financing.
Where to request it: Through the International Financial Institutions with which the ICO signs collaboration agreements or their Collaborating Entities.
Maximum amount per customer: There is not limit.
Bankable concepts:
Investment and Liquidity: Business activities and / or investments outside Spain, liquidity needs or general expenses of the activity outside Spain.
- Medium and Long Term Export: supplier credit, buyer credit, complementary financing linked to the purchase transaction that has not been fully covered in a buyer loan.
Format: type of financing contract agreed by the client and the Credit Institution.
Financial Conditions: those established between the client and the International Financial Institution.
Warranty: to be determined by the International Financial Institution with which the operation is processed.

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