Object and purpose:
The purpose of this programme is the granting of loans to finance investment and the needs of working capital, in the context of development of businesses through eligible projects, with the objective of facilitating access to financing charged to the funding agreement with funds from the European Investment Bank (EIB).
Beneficiaries:
May be beneficiaries of loans referred to in this program enterprises for profit, natural or legal persons, which can be considered small and medium-sized autonomous companies, referred to as ‘SMEs’, or autonomous mid-cap companies, hereinafter «Mid-Cap», developing an investment project in any of the production centres in Castilla y León, or in the case of projects of circulating , this corresponds to the needs of working capital from the production centers in Castilla y León.
Eligible sectors:
All sectors with the following exceptions will be bankable:
(a) the manufacture of armaments, weapons and ammo.
(b) the gambling and related materials.
(c) the manufacture, processing or distribution of tobacco.
(d) activities that involve the use of live animals for experimental or scientific purposes insofar as not to guarantee the fulfillment of the «European Convention on the protection of vertebrate animals used for experimental and other scientific purposes».
(e) the activities whose impact on the environment can only be mitigated or compensated to a very little extent.
(f) activities controversial ethical or moral reasons for example research on the cloning of human beings.
(g) the activities whose sole purpose is real estate development.
(h) the purely financial activities, e.g. trade with financial instruments.
(i) the activities of the energy mining sector.
(j) any of the activities that are excluded in the list of codes was established by the EIB.
(k) those activities that can be funded with loans to the agricultural or food industries which finances the agrarian technological Institute of Castilla and Leon.
Eligible projects:
This call will finance investments and expenses incurred by enterprises with non-profit, individuals or legal entities, that may be considered small and medium-sized autonomous companies called SMBS or enterprises of medium capitalization, contributing to its growth and technological modernization, mainly within the industrial sector, and projects that are considered eligible. For these purposes is defined as eligible project:
The set of investments and tangible and intangible costs which have to be identifiable in terms of location, design and benefits, and should be out in a maximum period of three years from the date of the individual decision of granting of the loan.
You may also consider and project the needs of working capital to medium and long term of the production centres located in Castilla y León.
Eligible projects of new investments, expansions or technological improvements of existing and innovative facilities in activities of the sectors eligible and located in the territory of Castilla y León.
Equally eligible projects to finance the needs of working capital in the medium and long term of the production centres located in Castilla y León.
Loan features:
Loans granted in the framework of this programme will take the form of loan interest rate variable intended to finance exclusively considered fundable project in accordance with the preceding articles, whose financial and repayment conditions are as follows:
- a) amount of the loan: the minimum amount will be 300,000 euros and the maximum amount may not exceed 7.000.000 euro
(b) the loan limit: the maximum limit may reach up to 70% of the eligible project cost. In the case of circulating, the maximum amount may not exceed 50%.
(c) the variable interest rate: the interest rate will be the result of the sum of two factors:
- the cost of financing to the ADE this loan program, which will be referenced to Euribor and,
- a differential fixed maturity that will, at least 100 basis points, on the basis of a year of 360 days.
(d) grace period: a period of amortization of the principal with a maximum of 24 months can be established.
(e) repayment term: the term of repayment of the loans granted for investments will have a duration minimum repayment of 24 months and a maximum of 120 months, including the grace period.
Loans intended to finance current will have a maximum duration of 72 months, including the grace period.
(f) depreciation fees: in as to the repayment of the loan, the repayment will be made by payment of fixed fees more corresponding accrued interest, due quarterly or half-yearly, according to what is stated in the resolution.
(g) early repayment: the borrower has the right to proceed to the total or partial repayment of the loan, by notification addressed to the ADE with at least 15 working days notice.
(h) default interest: in the case of delay in the payment of any sums due under the resolutions adopted on loans, it shall accrue by calendar days on the basis of a year of 360 days. The applicable interest rate will be the interest on arrears corresponding approved in the budget Act. The amounts due and not satisfied are capitalised as proper capital increase and, in turn, will generate new revenues to moratory interest resulting from the preceding paragraph.
(i) commissions: Commission of study equivalent to 0,50% of the granted loan, with a minimum of 1,500 euros.
Application date: until October 30, 2015.