Now more than ever, we want to help companies and freelancers commit to the growth of their business.
In order to promote and support the granting of new financing lines, Banco Sabadell offers financing linked to the ICO credit lines, so that you can carry out new investments in Spain aimed at adapting, expanding or renovating your production and service capacities or the resumption or reopening of your activity.
With the ICO COVID-19 Investment Guarantee Facility, it is possible to finance:
- New investment projects such as the acquisition of assets, capital goods, machinery, processes, materials, etc.; the expansion, adaptation, renovation or maintenance of capacities, installations, equipment, processes, etc.; and/or the development or resumption of the activity.
- All current and capital expenditure which may result from such investments (payments of invoices, maturities for financial or tax obligations, salaries...).
Who can request it?
According to the Royal Decree Law 25/2020, of 3 July, any company or self-employed person with a registered office in Spain can apply for the ICO COVID-19 Investment Guarantee Facility. It is a credit line aimed at all sectors of activity, whether they are public or private companies.
In the Royal Decree Law 25/2020, of 3 July, a 40-billion euro Guarantee Facility was approved to guarantee support financing granted to companies and the self-employed to meet their liquidity needs and, in particular, those arising from new investments.
The Council of Ministers' resolution of 28 July establishes the terms and conditions of the first section of the Credit Line for an amount of 8 billion euros distributed in two sub-tranches as follows:
- SMEs and freelancers: 5 billion euros
- Non-SME companies: 3 billion euros
For more information on conditions and requirements, click here
Conditions of the ICO COVID-19 Credit Line
Amounts of up to 1.5 million euros for the self-employed and businesses, in one or more transactions: the specific provisions of the European Union Regulation on de minimis aid will apply.
Amounts exceeding 1.5 million euros for SMEs and companies that do not qualify as SMEs, in one or more transactions: the conditions and limits laid down in the European Commission's Temporary Framework for State Aid will apply.
Terms and guarantee
The term of the transaction is up to 8 years, with the possibility of a 1-year grace period. The coverage of the guarantee is:
- For self-employed and SMEs: up to 80% of the transaction.
- For companies that do not qualify as SMEs: up to 70% for new transactions and 60% for renovations.
How to apply
Please contact your branch. A manager will help you with all the paperwork to submit the application.
For more information, see the Royal Decree Law 25/2020 of 3 July, on urgent and extraordinary measures to deal with the economic and social impact of COVID-19.
For more information, see the ouncil of Ministers resolution of 28 July dwhere the terms and conditions of the first section of the Guarantee Facility are established.