Línea ICO Exportadores 2017
Finance the internationalisation process and exporting activity
For companies with registered office in Spain
- The repayment term cannot exceed 180 days. Invoices can be issued in euros or other currencies. Financing exempt from fees.
ICO Exporters Facility 2017 Benefits
The ICO Exporting Facility is part of the International Mediation Facilities that the ICO makes available for financing the internationalisation process and exporting activities of companies with their registered office in Spain.
Low instrumented financing with the Exporter ICO Facility has these characteristics and advantages:
- The availability period begins on 21 February 2017 and ends on 15 December 2017.
- Invoices can be issued in euros or other currencies, although financing will always be in euros. The repayment period cannot be greater than 180 days.
- 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 + ICO fund capture differential (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.