Línea ICO Garantía SGR/SAECA 2017

  • 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 the guarantee of a RGC (Reciprocal Guarantee Company) or SAECA (State Public Limited company of Caución Agricultural). Their principal features are the following:

  • New and second-hand assets can be financed (machinery, computer hardware, furniture, properties, etc.).
  • Vehicles tourism are permitted whose price does not exceed 30,000 euros more VAT. Industrial vehicles can be 100% financed.
  • Company acquisitions can be financed.
  • You can finance the business startups 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.

Interest rates

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 higher 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 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).

Terms and Conditions

Beneficiaries:

  • 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.

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:

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.

Type:

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.

Validity:

Until 9 of December 2017, or earlier if the exhaustion of the Line's funds is produced.