New line ICO for innovative SMEs
31 January 2014
The Ministry of Economy and Competitiveness and the one of Inland revenue and Public Administrations have set up through the Institute of Official Credit (ICO) a new line of credit of 323,6 million euros of which will be able to benefit more than 12.000 innovative companies. To this line of financials promoted by the ICO and Feder, that cofinanciará 75% of the bottoms, will be able to access all those Spanish companies that have been valued like innovative. The Ministry of Economy and Competitiveness will publish in his web a list of the companies that are considered like such. Also they will be able to benefit the companies that find under the national codes of economic activities (CNAE) described as average or high technology by the National Institute of Statistics (INE).
“Is for seeing the guarantees that will ask the financial entities to the companies. In previous editions although the bottoms were of ICO his capacity of assumption of risks was limited in such a way that the Financial Entities realizar the analysis with the same rigour that when they contribute the bottoms” analyses Diego Gutierrez, of Open Invest.
This line of credit, that will be distributed by the financial entities collaborators, will be in force until 31 December 2015 and the time limit of vencimiento of the loans will be of seven years. The modality of these credits will be of ‘revolving', the interests and réditos that the ICO achieve with the activity of the companies that receive these loans will be reutilizados for actions that have the end to fund and help to innovative SMEs in Spain.
In addition to this help, the European bank of investments (BEI) also has approved a line of credit of 150 million euros to fund the capital circulante of the innovative SMEs.
