ICO SGR 2010 - 2011
The Banco Sabadell Group offers its customers the new ICO SGR 2011 line, which seeks to finance investment projects and working capital of the Self-Employed and Companies with the guarantee of the SGR to the Bank.
Beneficiaries: Self-employed and companies which are or may be considered a shareholding partner of one of the SGR included in the line.
Investments eligible:
Both investment projects and liquidity are eligible for finance via this facility.
- Investment:
The investment projects may include:
- Acquisition of new or second fixed assets.
- Acquisition of passenger vehicles who price does no exceed 30,000 euros.
- Acquisition of companies. - Liquidity
Specific treasury or liquidity needs.
Repayment period:
The following possibilities are available:
- Liquidity: 3 years, including 1 year grace period for the principal
- Investment: 7 years, including 2 years grace period for the principal
Maximum amount:
Up to 100% of the investment project (including VAT or similar tax inherent to the investment) within the following limits:
- From 0 to 600,000 euros, in one or more operations, for persons who have been customers for under 1 year, from the constitution or registration date in the relevant self-employed register (in the case of entrepreneurs), until the date the contract is signed.
- From 200,001 to 600,000 euros, in one or more operations, for persons who have been customers for over 1 year, from the constitution or registration date in the relevant self-employed register (in the case of entrepreneurs), until the financing date.
Interest rate:
Variable, 6-month Euribor plus 3%.
In addition, up to 1% in respect of the cost of the annual guarantee for the outstanding balance plus 4% of the mutual contribution.
Fees:
An arrangement fee of 0.5% will be charged of the amount requested, with a minimum of 60 euros.
Guarantees:
ICO shall analyse every application and in accordance with the solvency of the applicant and the viability, it shall determine the guarantees it seeks and the SGR may request in its review additional guarantees to those sought by the ICO.
This Facility will be in effect until 19 December 2011 or earlier if the funds are exhausted