- The ICO Lines are 25 years old, a period in which they have supported 178,000 million euros for the self-employed and SMEs
- The ICO granted loans amounting to 4,594 million in 2017, distributed in more than 79,900 operations
The Official Credit Institute (ICO) today signed the collaboration protocols with 10 financial entities for the concession of the ICO 2018 Lines. The firm was attended by the Secretary of State for Economy and Business Support, Irene Garrido; the President of the ICO, Pablo Zalba; and representatives of the ten most active financial institutions in granting ICO loans during the past year: Banco Popular (Grupo Santander), CaixaBank, Santander, Bankinter, Bankia, Sabadell, Abanca, BBVA, Microbank and Ibercaja.
The ICO granted financing amounting to 4,594 million euros in 2017, distributed over more than 79,900 operations. These figures are at the same levels as the results obtained in 2016, the year in which, thanks to ICO financing, more than 300,000 jobs were created or maintained in Spain.
This year also marks the 25th anniversary of the launch of the first ICO Pyme Line in collaboration with financial entities under the mediation model. Since then, the ICO Lines have granted 178,000 million euros through 3,100,000 operations to finance investment plans and the international activity of freelancers and companies.
Due to its countercyclical nature and once the economic recovery has been consolidated, the ICO focuses its strategy on offering Lines that add value to business financing and promote companies going abroad.
In the regional distribution, Catalonia stands out, where 15.8% of total financing has been granted, followed by Madrid with 15.3% and Andalusia, with 14.3%.
The ICO Lines are characterized by their great capillarity: more than 66.5% of the loans have been subscribed by micro-companies with less than 10 workers. The percentage rises to 92.7% if companies with less than 49 workers are taken as a reference. In addition, it highlights that the majority of loans granted, approximately 53%, have been microcredits with an amount of less than 25,000 euros.
The ICO Lines catalog for this year is divided again into two large blocks: Companies and Entrepreneurs and Internationalization, with the aim of covering the financing needs of self-employed and companies in any of their stages of development.
In addition, this catalog is complemented by other recently announced new products such as the ICO-IDAE Line, which finances investments aimed at improving the energy efficiency of companies and the International Canal Line, which enables Spanish companies to request loans from local banks. or international entities that have their headquarters in the countries where the investment projects or the export activity are carried out.
The ICO continues to promote the development of long-term investment projects with its products and continues to work to support Spanish companies in their exit abroad.