Alternative markets


Finance projects of consolidation, growth and internationalization, seeking capital and/or debt, through a regulated market, such as MAB and the MARF.


SMEs with consolidation, growth and internationalisation projects.


  • Be SMEs according to the definition of the EU.
  • Main activity and registered in the national territory.
  • Innovative/novel business or with clear competitive advantages.
  • Not be framed in the real estate and financial sectors.
  • Cofinancing of the financing needs associated with the business project.
  • Level of own funds, at a minimum, equal to the amount of the loan requested to Enisa.
  • Balanced financial structure.
  • Professionalism in management.
  • Technical and economic feasibility of the business plan.
  • Financial statements audited externally of the last closed financial year.


  • Participatory loan
  • Minimum amount: €300,000
  • Maximum amount: €1.500.000
  • For the determination of the amount is assessed, among other factors, the level of own funds and the financial structure of the company.
  • The interest rate will be applied in two sections:

-First stage: Euribor + 3.75% differential.

-Second segment: variable interest depending on the profitability of the company with a maximum limit established in accordance with the rating of the operation up to 8.0%.

  • Commission opening: 0.5%.
  • Maturity: maximum 9 years.
  • Lack of the main: maximum 7 years.
  • Commission early repayment: equivalent to the amount that the amount amortized advance had earned in respect of the second tranche of interest if it had amortized in the terms established initially.
  • Commission of maturity anticipated by change in shareholding: equivalent to the amount that the balance by main live from the loan, at the time of early maturity, would have earned in respect of the second tranche of interest if the loan had been repaid initially provided.
  • Quarterly interest and principal repayment.
  • No warranties

Application date: until December 31, 2015.

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