The purpose of these rules is to regulate the granting of aid as collateral to finance working capital and investment in innovation, internationalization and industrialization.
Characteristics of the aid
The Department of Enterprise and Employment answer 70% of the outstanding principal of each loan formalized through the ICF.
The loan terms are:
- a) Interest rate: Euribor plus a spread of up to 5.75 percentage points.
- b) Amount: the loan amount is determined in the resolution, with a minimum of 50,000 euros and a maximum of 500,000 euros for circulating and 1,000,000 euros for investment in one or several loans. In the case of investment, the loan amount can not exceed 80% of the costs accepted. The maximum amount of loan company or business group will be EUR 1 000 000.
- c) Term: The maximum loan term is 4 years working and investment is 7 years.
- d) Lack of amortization: up to 1 year for circulating and 2 in the case of investment, including in the term.
- e) Disbursement: The loan is available in full at the time of signing.
- f) Guarantees: considered sufficient in the opinion of the Catalan Institute of Finance. Additionally, to supplement guarantees to provide the holder, all operations have the guarantee of the Department of Enterprise and Employment, which is 70% of the outstanding risk of operations. In anticipation of possible defaults the available balance of the fund is affected in 50% of the outstanding amount of loans.
- g) Fees: Operations have an opening commission of 0.50% of the loan formalized with a minimum of EUR 500 per loan transaction.
- h) Interest on arrears: standard rate + 6.
- i) Depreciation: the loan is repaid quarterly in arrears.
Until depletion budget.