ICO Growth , the new tool launched by the Instituto de Crédito Oficial (ICO), offers Spanish small and medium-sized enterprises a direct, public and 100% digital financing channel. Its objective: to facilitate access to credit for SMEs with the capacity for expansion, innovation and job creation.
ICO Growth represents a structural change in access to public financing. Unlike other lines, this initiative is managed entirely by the ICO, without going through banks or private financial institutions. It is designed to cater to businesses that:
They are at least four years old.
They have audited accounts for the last two years or have a public guarantee.
This financing is especially aimed at businesses with an innovative profile, a high investment in intangibles or with difficulties in accessing traditional bank credit, offering a viable, agile and competitive alternative.
The line has an initial endowment of 1,000 million euros and will be available until December 31, 2027. Transactions can reach average amounts of between €100,000 and €125,000, with repayment periods of 5 to 10 years and the possibility of an initial grace period.
The interest rate starts from the Euribor plus a margin between 1.75% and 0.75%, depending on the risk of the project and the existence of guarantees. In the case of co-financing with a bank, conditions can be improved even more.
The application process is done entirely through the digital platform of the ICO , which automatically connects with bodies such as the Tax Agency or Social Security, simplifying procedures and reducing management times.
If you need more information you can consult our blog here .
