ICO's direct financing catalogue

consult the terms and conditions

ICO’s direct financing catalogue
Who is it for?
  • Businesses or projects involving Spanish interests, for investment, the development of export activities or corporate expansion projects. In both domestic and international contexts, in collaboration with other financial institutions, whether these are public or private, national, international or multinational
Where can I apply?
  • At the General Directorship of Business 
Amount per customer
  • The minimum amount of ICO financing will be EUR 10 million or its equivalent value in another currency and cannot exceed the largest shareholding of any other financial institution
  • The amount may be lower if the financing is provided to medium-sized enterprises or midcaps in the process of growth or internationalisation
What does it finance?
  • Financing of investment projects, development of business activities, exports or corporate plans for commercial expansion, innovation or investment, regardless of the structure of the operation and its instrumentation. Thus, the following operations, among others, may be financed:

    • New investment or expansion of business activities

    • Acquisition of companies or acquisition of shareholdings

    • Buyer's credit, supplier's credit and complementary financing operations

    • Granting guarantees and counter-guarantees for national or international projects

    • Business activities and liquidity, including working capital

  • In general, ICO will not refinance or restructure operations

  • It can be formalised through any instrument, depending on the operation being financed (loan, project finance, financial guarantees, bonds, buyer’s or exporter’s credit, etc.)
Price of the operation and fees
  • The price will be established for each operation, in line with market conditions. The usual fees and expenses may be applied (opening fee, formalisation expenses, etc.)
Repayment term and grace period
  • Operations will preferably be formalised in the medium and long term. The specific repayment term and grace period will be subject to negotiation with each business
  • EUR, USD and other currencies to be assessed on a case-by-case basis
  • These are determined according to the kind of project and the characteristics of the company
  • All economic/financial documentation that ICO deems necessary in order to evaluate the operation
  • ICO may finance projects that contribute to sustainable development, the circular economy, growth and distribution of wealth and job creation, as well as projects that are designed to combat climate change and those that are aligned with major global agendas for development, including the ODS, the European Strategy 2030, and OECD and European Commission recommendations
  • Projects that do not comply with the obligations assumed by ICO through its adherence to the Equator Principles or other international standards to which ICO could adhere will not be financed