How are the grants requested?

The application is made through the usual BBVA adviser, who will answer any questions and specify how to send in the necessary documentation. You can also ask us to call you or you can look for open branches in your location .

Can a foreign company apply for a loan through this facility?

Yes, provided that you carry out business activity in Spain.

What documentation is required?

Depending on the purpose of the ICO financing, additional documentation may be required.

ICO Loans for Businesses and Entrepreneurs

Financing solutions for your business

The ICO loan facility for Companies and Entrepreneurs is intended for investment projects, business activities and/or liquidity needs or expenses.

These loans can be requested by self-employed workers and companies that carry out their business activity in Spain, regardless of their registered office or tax address and whether they are Spanish or foreign.

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What can you finance with these ICO loans?

The financing needs to carry out your business activities and/or investments, as well as your liquidity needs and expenses related to the company's own activity. You can also finance the renovation of homes and buildings.

Compatibility of this financing with the grants given by other organisations

This financing may be compatible with grants received from regional authorities or other institutions (subject to the limitations stated in the terms of such grants).

Maximum amount per customer

Up to €12.5 million in one or various transactions (depending on purpose, the maximum amount may be lower).
Term, repayment period and grace period
Validity: transactions can be carried out with the Credit Institution throughout 2024.

Repayment and grace period: from 1 to 20 years with the possibility of up to 3 years of grace period for principal (depending on the purpose, the maximum term may be shorter).
Interest rate, type and activities excluded
Interest rate: fixed (loan or leasing) or variable (loan only)

Option: arrangement via loan or leasing depending on the purpose

Excluded activities: the following activities cannot be financed:

Activities in the arms and ammunition sector.

Illegal activities under legislation applicable to the operation in question, or according to international agreements and conventions, including regulations on the environment, health and safety and employment.

Activities that limit individual rights and freedoms or violate human rights.

How do ICO loans work?

The way that an ICO loan works is not very different from the way that a ‘traditional’ bank loan does. The difference, however, is that an ICO loan involves three parties:

The Instituto de Crédito Oficial, which provides backing for the financing and its terms.

The credit institution, which analyzes the feasibility of the loan, manages the money being lent, and assumes the risk of any failure to repay by the customer

The application, who is required to repay it over the stipulated time period, along with the agreed-upon interest.

Some questions that may come up

The customer will be able to carry out transactions with the Credit Institution throughout 2024.

ICO Business and Entrepreneur