Línea ICO Garantía SGR/SAECA 2017
Financing of investments in productive fixed assets
or for liquidity needs inside and outside the country
- You can finance new and second-hand assets. Vehicles tourism are permitted whose price does not exceed 30,000 euros more VAT. Fixed or variable interest rate.
This Facility facilitates the financing of investments in productive fixed assets or liquidity needs inside and outside of the country. The operation must have the guarantee of a RGC (Reciprocal Guarantee Company) or SAECA (State Public Limited company of Caución Agricultural).
It permits following financings:
- New and second-hand assets (machinery, computer hardware, property, etc.).
- Vehicles tourism whose price does not exceed 30,000 euros more VAT. Industrial vehicles can be financed up to 100%.
- Acquisition of companies.
- Starting up businesses abroad.
- Needs of liquidity with the limit of the 50 % of the total amount of the financing, that it will be able to expand until the 100 % for operations in installments of 1, 2, 3 or 4 years.
- The investment to be financed cannot be initiated before 1 January 2016 and must be executed within a maximum of 12 months from the date of the signing of the financing.
The interest rate can be fixed or variable and is adjusted to the term of the operation and to the percentage guarantee provided by the RGC/SAECA, and it is composed of:
- One-year forward transactions: Euribor 6 months or fixed rate equivalent + ICO differential (term of 1 year) + 2.30%.
- Forward transactions of 2, 3 or 4 years: Euribor 6 months or a fixed rate equivalent + ICO differential (term of 2, 3 or 4 years) + 4.00%.
- Forward transactions higher than 4 years: Euribor 6 months or a fixed rate equivalent + ICO differential (to the term of the operation) + 4.30%.
The credit institution and the RGC/SAECA will apply a margin for intermediation and a guarantee fee, respectively; together these may not exceed the maximum margin applicable to the aforementioned interest rate.
The differential ICO is the cost of fund capture for this body and it fluctuates according to market conditions and the repayment period of the operation. The ICO publishes these data regularly on its website www.ico.es.
No start-up, appraisal or availability fees by the financial institution. In the event of early amortisation a fee will be charged for cancellation.
The RGC/SAECA will charge an appraisal fee of 0.50% of the guaranteed amount. Additionally, the RGC will charge a fee on the guaranteed amount of up to 4% for a mutual society subscription fee (refundable to the client once they end their relationship with the RGC).
- For investments made within the liquidity country and needs: companies, self-employed workers, public and non-profit organisations companies, regardless of its registered office or district attorney and regardless of if the most part of the share capital is Spanish or foreign.
- For investments made out of the liquidity country and needs: companies, self-employed workers, public and non-profit organisations companies Spanish in which is included so much the direct billing ones in Spain, as those that being direct billing abroad, have Spanish capital majority.
In all cases, the operation must have the guarantee of a RGC/SAECA.
The credit institution, RGC or SAECA will perform an analysis of each application and, according to the solvency of the applicant and to the feasibility of the project, will determine the guarantees to be provided.
Maximum amount per customer per year:
Until the 100 % of the investment project (more VAT) or until the 100 % of needs of liquidity, with a maximum of 2 million euros by holder and year, in one or more operations.
Loan or leasing to finance investments and loan to finance needs of liquidity.
Repayment and interest-free period:
- 1 to 10 years without exclusion period or including 1 year of principal exclusion period.
- 12 years, 15 years and 20 years without exclusion period or including 2 years of principal exclusion period.
The years must be complete years.
Until 7 December 2017 or earlier if the facility's funds are exhausted.
Frequently asked questions:
¿To what RGC owe address to request the guarantee?
You must address to the RGC that it operates in the Autonomous Community where you develop your corporate objective; anyway, there are societies with national and character field of action sectorial.
You can consult the list of the RGC in the following link: www.cesgar.es
¿It is possible that it can not request the ICO FACILITY Guarantee RGC/SAECA 2017, because it does not fulfill conditions to be member of a RGC?
Yes, statutes of the RGC can have a more restrictive character to consider to a company as member shareholder that established criteria with general character to be considered client of the Line.