- 19 October, 2018
- Posted by: partners
- Category: Blog
Financial support through loans to innovative companies, with innovative projects or projects that suppose an improvement of the competitive position to favor the growth and consolidation of these companies.
Projects and actions that can be financed.
- The expenses of business projects, directed to the expansion and growth of companies, will be fundable, with special attention to innovative companies, with novel projects or that suppose an improvement of the competitive position.
- The investment assets subject to financing must be acquired in ownership by the beneficiary from third parties. In the case of acquisition of assets through a deferred payment formula, these must also become the full property of the beneficiary before the end of the project execution period, and the expiration and payment of deferred amounts must be recorded at this time.
The financed expenses must be contracted and paid directly between the beneficiary of the loan and the final provider. Suppliers may not be linked to the requesting entity or to the members of its governing bodies or managers.
- The investments and expenses that can be financed with the loan will be those actually made by the beneficiaries contemplated in the project approved in the concession resolution, and the following items will be considered fundable:
- a) The acquisition, renewal or expansion of tangible assets that are not Land.
- b) Intangible assets.
Amount of financing and limits.
- The maximum amount of the loan will be the lowest amount resulting from the application of the following limitations:
- a) It can not exceed an amount equivalent to 50 percent on the figure of “Total Own Funds”, and
- b) It can not exceed an amount equivalent to 25 percent over the figure of “Total Liabilities”, which is understood as the sum of the “Long Term Liabilities” and the Short Term Liabilities.
In any case, the maximum financing amount per Beneficiary will be 300,000 euros and the minimum of 50,000 euros.
- The loans provided in these Regulatory Bases are instrumented through reimbursable loans.
The characteristics of the loans will be the following:
- a) Amount of the loan: The one that results from the application of the percentage and established limits.
- b) Amortization period: Four years maximum, including a grace period of up to fifty percent of the total term, adapted to the characteristics of the project. The minimum term for granting the loan will be two years.
- c) Interest rate: It will be determined in accordance with the following form and will be composed of the sum of the following types:
– Reference rate: For the first year, it will be calculated on the EURIBOR for a year published on the last day month prior to the date of the Evaluation Committee of the project presented by the beneficiary.
In the following years, it will be reviewed annually on the basis of the Euribor for a year registered on the last day of the month of December of the previous year and will come into force as of January 1 of each year.
– Additional rate: determined based on the credit rating of the beneficiary company at the time of granting. The additional rate will range between 0.9% and 3.90%, depending on the characteristics of the business project and the risk rating.
Until December 31, 2018 or budget exhaustion.