2009 ICO Action Lines to support companies

Given the increasing difficulties small and medium-sized enterprises are experiencing in order to access credit, the Government has established several programmes in order to improve the current conditions so that companies may be able to carry out the necessary productive investments to overcome the current situation. Thus, in 2009 the traditional ICO action lines intended to support companies are extended and improved; this includes the so-called ICO-PYME line (10,000 million Euros) for small and medium enterprises, the ICO-Internacionalización (200 million Euros) to promote internationalisation, the ICO-Emprendedores (100 million Euros) to promote entrepreneurship, and the ICO-Crecimiento Empresarial (600 million Euros) to promote business development. These programmes have been endowed with 10,900 million Euros for 2009.

ICO-PYME action for small and medium-sized enterprises

It will be endowed with 3,000 million Euros more and, thus, in 2009; its funds will amount to 10,000 million Euros, the most important amount in the last 15 years. For the first time, the possibility to use up to 40% of the credit obtained to finance working capital is contemplated, even though, this possibility is subject to the investment of at least 60% of the total financing funding in fixed productive assets.

Beneficiaries. Self-employed workers and small and medium-sized companies. Applications must be submitted to the financial entities.

ICO-Emprendedores action for entrepreneurs

It makes it possible to finance self-employed workers and entrepreneurs engaged in creating new companies or new professional activities under preferential conditions. This year, the funding for this action increases up to 100 million Euros. This action is intended to finance up to 90% of the investments in new productive assets.

Beneficiaries. Self-employed workers and new small companies with less than ten employees. Applications must be submitted to the financial entities.

ICO-Internacionalización action to promote business internationalisation

It is intended to promote the presence of Spanish companies abroad by financing their investments under preferential conditions. It will be endowed with 200 million Euros in 2009.

Beneficiaries. All companies. Applications must be submitted to the financial entities.

ICO-Crecimiento Empresarial action to promote business growth

It is endowed with 600 million Euros and it is intended to provide Spanish companies interested in developing more ambitious investment projects with an adequate financing. The assets financed will have to be new fixed productive assets and financing will cover up to 80% of the net investment project.

Beneficiaries. Companies with 50 or more workers by 31 December 2008, regardless of their total sales revenue or their balance sheet. Applications must be submitted to the financial entities.