- The ICO 2013 Lines are simplified and focus on two main areas of activity: Companies and Entrepreneurs and Internationalization.
- These two major lines will allow financing the investment projects and liquidity needs of companies and the self-employed, both in the national territory and abroad.
- Among the main novelties of the ICO 2013 Lines, the differentiation of interest rates based on the repayment terms of the operations stands out.
The President of the Official Credit Institute (ICO), Román Escolano, today presented to the main financial institutions in the country, the ICO Lines 2013 that the Institute will make available to Spanish companies and freelancers in 2013 for the amount of 22,000 million of euros. These lines will be available from January 2, 2013.
From a strategic point of view, the ICO in 2013 bets on improving the financing of the liquidity needs of companies and on supporting and promoting the internationalization of the Spanish company, financing both investments abroad and activity exporter of these companies.
From an operational point of view, one of the main objectives of the ICO is to unify and simplify the different existing products and to cover the different financing needs of companies and freelancers.
LINES OF FINANCING ICO 2013
ICO financing lines are processed through the network of branches of credit institutions (banks and savings banks). These entities are in charge of analyzing the projects, demanding the guarantees and covering the risk of the operations.
ICO Companies and Entrepreneurs Line. It has an economic endowment of 18,000 million euros. The objective of this line is to provide the self-employed and Spanish companies with financing to undertake their investments in the national territory and cover their liquidity needs.
Among the main novelties of this line in 2013, the improvement in the liquidity financing conditions of companies and the differentiation of the interest rate based on the amortization period of the operation stand out. The maximum amount of financing is 10 million euros per customer, granted by loan or leasing and with repayment terms of up to 20 years.
Likewise, the possibility is considered that communities of owners and individuals can finance with this line the rehabilitation or reform of buildings, common elements and houses.
ICO SGR 2013 line. Within the global endowment of the Companies and Entrepreneurs Line, a chapter endowed with 200 million euros is included to finance projects that have the endorsement of a reciprocal guarantee company (SGR). In this way, the ICO continues to bet on the figure of the SGR as a basic financial instrument to provide the necessary guarantees for the financing of companies. This risk coverage by the SGR will be valid both for investment operations and for the liquidity request by the company.
The maximum amount of financing is 1 million euros per customer, granted by loan or leasing and with repayment terms of up to 15 years.
International ICO Line. It has an endowment of 4,000 million euros. The objective of this line is to provide the self-employed and Spanish companies with financing to undertake their investments outside the national territory and cover the liquidity needs that such investments cause. At the moment, the ICO is strongly betting on support for internationalization and export, axes of the growth of the Spanish economy in the current situation.
The maximum amount of financing is 10 million euros per customer and with repayment terms of up to 20 years.
ICO Exporters Line 2013. Within the global endowment of the International Line there is a chapter endowed with 500 million euros to enhance the export vocation. The purpose of this line is to provide liquidity to Spanish freelancers and companies, by anticipating the amount of invoices issued from their short-term export activity. The maximum amount of financing is 5 million euros per customer.