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. Cars whose price does not exceed 30,000 euros plus 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 a RGC (Reciprocal Guarantee Company) or SAECA (Sociedad Anómina Estatal de Caución Agraria) guarantee.

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 longer 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 periodically publishes this information on its website www.ico.es.

No start-up, appraisal or availability fees by the financial institution. Cancellation fee or early repayment charge.

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).

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Beneficiaries:

  • For investments made within the national territory and liquidity needs: companies, self-employed workers, public and non-profit organisations, regardless of the location of their registered offices or tax residency, and regardless of whether the majority of the share capital is Spanish or foreign.
  • For investments made outside the national territory and liquidity needs: companies, self-employed professionals, public entities and non-profit organisations, including both those registered in Spain and those registered overseas with a Spanish majority holding.

In all cases, the operation must have a RGC (Reciprocal Guarantee Company) or SAECA (Sociedad Anómina Estatal de Caución Agraria) guarantee.

Guarantees:

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:

Up to 100% of the investment project (plus VAT) or up to 100% of liquidity needs, with a maximum of 2 million euros per holder and year, in one or more operations.

Type:

Loan or Leasing to finance investments and loan to meet current liquidity needs.

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.

Validity:

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.