New ICO credit lines for the self-employed and entrepreneurs are in force in 2021 and can be applied for throughout the year.
The loans may be applied for by the self-employed, entrepreneurs and all types of companies, both Spanish and foreign, wishing to carry out business activities and/or investments, cover liquidity needs or expenses within the national territory.
Individuals, homeowners' associations and groups of homeowners' associations may also apply for financing to refurbish homes and buildings or to reform their common elements.
Directly through credit institutions.
Up to 100% of the amount of the invoice may be financed, provided that the maximum amount of 12.5 million euros of outstanding balance per customer per year is not exceeded, in one or more operations
Loan, leasing, renting or credit line.
You can choose between a fixed or variable interest rate. If the operation is formalised at a variable interest rate, this will be reviewed every six months by the Credit Entity in accordance with the terms of the financing contract.
The APR may not exceed the following limits:
The APR is updated fortnightly. It can be consulted in the product file on the ICO website.
From 1 to 20 years with the possibility of up to 3 years grace period on the principal, depending on the term.
The credit institution may charge a single fee at the start of the operation, plus, where applicable, an early repayment fee.
They will be determined by the credit institution, except for the guarantee of the SGR/SAECA