Línea ICO Exportadores 2016

  • International Mediation Facilities that the ICO

    Has available to finance the process of internationalisation and exporting.

  • The repayment period cannot be longer than 180 days. Invoices can be issued in euros or other currencies. Compatible with other aids received from the CC.AA.

    Advantages of the ICO Exporting 2016 Facility

    The ICO Export Credit Facility is included in the International Mediation Credit Facilities that the ICO has available to finance the internationalisation process and exporting activity of companies with registered offices in Spain.

    Low instrumented financing with the Exporter ICO Facility has these characteristics and advantages:

    • The availability period begins on 4 January 2016 and ends on 9 December 2016.
    • The repayment period cannot be longer than 180 days.
    • Invoices can be issued in euros or other currencies, although financing will always be in euros.
    • This financing is exempt from fees (opening, extension, cancellation without reimbursement, etc.).
    • Signing additional documentation is not necessary (with the exception of the Annexe 0), or the modification of the participating policy, or the presentation of additional documents than those required for any export financing.
    • It is compatible with other aids received from autonomous communities (AC) or other institutions (RGC/SAECA).
    • You can finance up to 100% of the amount of the bill, provided it does not exceed the maximum amount of 12.5 million euros per client, with no limitation per debtor country.

    The maximum amount will be calculated taking into account the total provisions in force in the system. The applicable interest rate is variable, and settlement can be “early” or “upon maturity”.

    The nominal interest rate is formed by:

    • EURIBOR 6 months + Differential of ICO fund capture (currently 0.15%) + Bank Margin.

    The ICO differential is the cost of sourcing funds for this company and it fluctuates according to market conditions. The ICO periodically publishes this information on its website www.ico.es.

    Terms and Conditions

    Beneficiaries:

    Self-employed workers and companies registered in Spain that issue invoices from the firm sale of goods and/or services made to a debtor outside of Spain.

    Maximum amount per customer per year:

    • The same client can obtain a maximum amount of financing of 12.5 million euros under the protection of this facility, either in one or several arrangements.
    • Clients cannot exceed this limit in the total of the provisions in force among the different financial institutions associated with the ICO Exporters Facility 2016.
    • You will be able to finance up to 100% of the amount of the invoice, provided it does not exceed the maximum amount of 12.5 million euros per client in the total of the provisions in force, there being no limit per debtor country.

    Validity:

    Until 9 December 2016, or earlier if all the funds allocated to the facility have been awarded.