ICO loans: what you need to know

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In today's article we are going to talk about a source of financing that is widely used by companies: ICO Loans. We will start by telling you what they are, the advantages they have and what types of ICO loans exist. Before starting, you should know that these lines of credit granted by the Official Credit Institute They have been in existence for more than 20 years, so they are a reliable source of financing.

What are ICO loans?

loans ICO its about public financing lines specifically intended to finance projects for the self-employed, entrepreneurs or SMEs.

This type of financing is called annually and has a maximum amount of credits per applicant, so if you want to enjoy these services, you must apply as soon as possible. For this, it is essential a good financial report Clearly capture the information of your company or project, its economic data and the objectives you want to achieve with this credit.

Despite being publicly financed, these loans They are managed by private credit institutions. This is because the Official Credit Institute establishes agreements with banks and savings banks, which are responsible for analyzing the operation to be carried out and determining the guarantees, to finally decide whether or not to grant the aid. You must be the one who decides which branch to go to to request your credit.

Advantages of ICO lines

Since ICO loans are attributed to companies, there are several advantages demand this type of financing, In addition, they are easier to obtain, since more facilities are given in the required guarantee.

Compared to banks, this type of loan generally has more beneficial commissions and interest for the recipient companies.

  • Preferred conditions. They are public bodies so they offer competitive interest rates.
  • Easy Processing: It can be with the bank or other authorized organizations.
  • Compatible with other aids. They are not exclusive with other public aid.
  • Financing: You can finance both your investments and liquidity needs

Types of ICO loans

There are several types of ICO loans, so you will have to Choose the one that best suits your needs. The different types of loans available to this institution are the following:

ICO Line for Companies and Entrepreneurs

Aimed at self-employed, companies and individuals who make productive investments in Spain. It finances both liquidity and productive investments. The maximum amount of financing is 10 million euros per customer, with repayment terms of up to 20 years.

ICO Line SGR SAECA Guarantee

Intended for investments both in national and international territory that have the endorsement of a Reciprocal Guarantee Society or SAECA. The maximum amount of financing is 1 million euros per customer, whose repayment terms are up to 15 years.

ICO Internationalization Line

Loans are granted to Spanish companies that invest abroad, covering the liquidity needs of the good or service. The maximum amount of financing is 10 million euros per customer and the repayment period is up to 20 years.

ICO Exporters Line

The purpose of which is to anticipate the collection of invoices for export operations and cover liquidity needs. The maximum amount per customer is 5 million euros per customer.

Once you know what ICO loans are, the advantages and the types of financing, we can help you in obtaining this type of help, you just have to click on Public financing for companies or put you in contact us.

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