Línea ICO Garantía SGR/SAECA 2016
Facilitates the financing of investments in productive fixed assets
or for liquidity needs inside and outside the country
- Finance new and second-hand assets. You can finance the acquisition of companies. Fixed or variable interest rate.
Benefits of the ICO RGC/SAECA facility
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. Their principal features are the following:
- New and second-hand assets can be financed (machinery, computer hardware, furniture, properties, etc.).
- Cars whose price does not exceed 30,000 euros plus VAT. Industrial vehicles can be 100% financed.
- Company acquisitions can be financed.
- Starting up businesses abroad.
- You can finance your liquidity needs up to a limit of 50% of the total amount of the financing, which may be increased to 100% for operations in periods of 1, 2, 3 or 4 years.
- The investment to be financed will not be able to be initiated before 1 January 2015, and he should execute within 12 months to be told from the date of signature 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 fixed rate equivalent + ICO differential (term of 2, 3 or 4 years) + 4.00%.
- Forward transactions longer than 4 years: Euribor at 6 months or fixed rate equivalent + Spread ICO (at maturity 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).
Terms and Conditions
- 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.
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.
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.
Until 9 December 2016, or earlier if all the funds allocated to the facility have been awarded.