Now more than ever, we want to help companies and freelancers cope with the economic effects of COVID-19. For this reason, at Banco Sabadell we offer you financing linked to lines of credit from Spain's Official Credit Institute, the ICO, in order to meet the following needs of your business:
- Payroll, rents or other fixed expenses.
- Payments to suppliers.
- Past-due payments of financing and tax obligations.
- New investment projects such as the procurement 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 expenses which may result from such investments (payments of invoices, past due financial or tax obligations, payroll, etc.)
Who can request it?
Royal Decree-Lawy 8/2020, of 17 March and Royal Decree-Law 25/2020, of 3 July, as extended pursuant to Royal Decree-Law 34/2020 and Royal Decree-Law 5/2021 and that Royal Decree-Law 27/2021, of 23 November, which extends the deadline for granting the guarantees released in Royal Decree-Laws 8/2020 and 25/2020 until 1 June 2022.
Puede solicitar la Línea ICO Avales Inversión COVID-19 cualquier empresa o autónomo con domicilio social en España. Es una línea dirigida a todos los sectores de la actividad, ya sean empresas públicas o privadas que han visto afectada su actividad económica por los efectos del COVID-19.
Any company or self-employed person with a registered office in Spain can apply for the ICO COVID-19 Investment Guarantee Facility. This is a line of credit aimed at all sectors of activity, both public and private companies whose economic activity has been affected by COVID-19.
For more information on conditions and requirements, click here
Conditions of the ICO COVID-19 Credit Line
Amounts of up to a maximum of €2.3 million for freelancers and companies, in one or more operations: the
specific provisions of the Regulation of the European Union on minimum aid apply.
Amounts over €2.3 million for SMEs and companies that do not meet SME status, in one or more operations:
the conditions and limits provided in the Temporary Framework of State Aid of the European Commission
Terms and guarantee
The term of the operation is up to 10 years, with the possibility of up to a 1-year grace period. The
guarantee coverage is:
- For Freelancers and SMEs up to 80% of the operation.
- For companies that do not qualify as SMEs up to 70% for new transactions.
- Closure of simulator for new applications: 18/04/2022. 18/04 is the last day to apply for a new ICO Investment transaction.
- Deadline for signing before a notary: 20/05/2022. Remember that, in order to sign, it is necessary to have previously compiled all the compulsory documentation.
Both dates are established due to the obligation to send the documentation for the granting of aid to ICO before 1/06/2022.
How to apply
Contact your branch. A manager will help you with all the request procedures.
On this page you will find more information on the Royal Decree Laws linked to the ICO lines of credit, so that you can view all the details.