How they work the ICO loans


Financing for self-employed workers and companies with a competitive interest and a term of up to 20 years

The operation of the loans ICO not differs too from the given traditional’ loans ‘by the banks. However, unlike these, this way of financing involves three parts: the Instituto de Crédito Oficial, the credit institution and the applicant, that can be an SME, self-employed worker or even a public authority.

On the one hand, he is the ICO the one which provides the money and he puts the conditions to access him; in the meantime, the credit institution analyzes the feasibility of the loan, manage the lent money and assume the risk in the event of nonpayment of the customer. Thus, as in any other loan, he is the receiver of the money the one which has to return it within the stipulated time, together with the interested partner.

He is, to sum up, a system of mediation so that SMEs and self-employed workers access a series of lines of funding, each with your own characteristics. Nowadays there are five of these lines:

  • ICO Business and Entrepreneurs: destined mostly to self-employed workers and companies that need liquidity or want to carry out productive investments within Spanish territory. In this line also contemplates financing for public authorities and for communities of owners.
  • ICO Guarantees RGC/SAECA: a line intended for self-employed workers, companies and public companies or private that have the endorsement of a Reciprocal Guarantee Company or of the State Public Limited company of Caución Agrarian.
  • ICO CommercialClaim: reasoned for self-employed workers and companies that need to access liquidity through the advance of the payment of invoices that have pending of charge.
  • ICO Exporters: concentrating on self-employed workers and companies that need to access liquidity through the advance of the payment of invoices from exporting activities or financing the previous costs of production of your goods or services intended for the foreign market.
  • ICO International: he has two stretches, one for self-employed workers, companies and public companies or private that need investment or liquidity; another for Spanish companies or foreigners that want to finance the buy/sell of goods or services.

With these tools of financing expects to promote the business startups for your development so much within Spain as in the exterior. Thus, some examples of bankable concepts contemplated for the ICO are:

  • The acquisition of standard family cars whose cost not overcomes the € 30,000.
  • Facilitate up to 100% of liquidity for expenses of working capital.
  • Anticipate the payment of invoices to maturity not higher than 180 days.
  • Acquisition of companies.
  • Business startups abroad.
  • Cover costs of production and elaboration of goods or services for export.

Limits of financing and conditions of the loans ICO

Limits of financing and conditions of the loans ICO

The maximum financing to the one which you can choose and your conditions of refund varies depending on the picket line. As a general rule, the maximum capital that grants the ICO ascends to the 12.5 million € and he has a maximum period of repayment of 20 years. However, the majority of the loans that grant not overcome the € 25,000 and they are intended for projects of SMEs and smaller SMEs.

As for the interest associated with the loan, this can have a fixed rate, with quote quincenal, or variable: that understands an on to 6 months more a differential.

  • In loans to a year will sum up to 2.3%.
  • In loans of two on three years addition 4%.
  • In loans of 4 years hereinafter addition 4.3%.

The ICO loans do not have start-up fees or study, but yes a fee of cancellation in the event of early amortization.

This repayment can be off on to 10 years, 12, 15 or 20 with until 2 years of lack if finances investment or investment and liquidity. And of 1 on 4 years with until 1 of lack if finances only liquidity.

How request a loan ICO

How request a loan ICO


To request a loan ICO the interested party must come to one of the offices of the credit institutions associated to this finance system, including BBVA, and presenting a proposal that must center, mostly, in these two passwords:

  • Who request the financing and for what needs it.
  • Fee-paying skills, patrimonial solvency and collateral securities, including the avalista. This, as in any other application of money, he is one of the parts more important for achieving the financing.