ICO Investment 2012
Banco Sabadell has subscribed for its clients the ICO Investment 2012 facility, to provide finance for investment in productive Fixed assets inherent to the company’s business within national territory.
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Characteristics
Beneficiaries:
Self-Employed, Public And Private Entities (Companies, Foundations, NGO’s, Public Administration, Town Councils, Local Entities,…).
Investments Eligible:
- Acquisition of productive Fixed assets, new or second hand.
- Acquisition of passenger cars whose price is not in excess of 30,000 € (+ VAT).
- Acquisition of companies.
- The VAT or similar tax inherent to the investment (except in leasing).
- Working capital expenses with a limit of 10% of the total amount financed.
The investments may not have started prior to 1 January 2011 and must be fully materialised within a maximum of one year as from the date the contract is signed.
Restructuring of liabilities or refinancing is not accepted
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- Financial Conditions
Maximum amount:
Up to 100% of the investment to be financed plus VAT, with a maximum of 10 million euros per client and year, in one or more operations.
Repayment period:- 3 years without grace period on the principal
- 5 and 7 years with a 0 or 1 year grace period on the principal
- 10, 12, 15 and 20 years with a 0 or 2 year grace period on the principal
Interest rate:
Fixed or Variable plus ICO margin plus 1.80% (operations with no grace period) or 1.65% (operations with a grace period).
The interest rates are quoted fortnightly by the ICO.
Fees:
No fees.
This Facility will be in effect until 17 December 2012 or before if the funds are exhausted