ICO Internacional 2010

• Tranche I:             Self-employed and SMEs.
  
• Tranche II:            Medium size and other companies.
  

Financeable items

• Fixed production assets: New and second hand.
  
• Acquisition of saloon vehicles priced under 24,000 €.
  
• Acquisition of companies: Acquisition of shares or stock in companies resident abroad.
  
• Creation of companies abroad; in this case the current assets associated with the investment project will be financed (under no circumstance may they exceed 20% of the total project amount).

The investment to be financed may not have commenced prior to 1 January 2009 and must be executed within a maximum term of 12 months as from the date the financing is signed.

Non-financeable items.  Restructuring of liabilities, any other taxes associated with the investment and investments whose purpose is to offshore the Spanish company.

Repayment period:

• 3 years without a grace period for payment of the principal.
  
• 5 years with 0 or 1 year grace period for payment of the principal.
  
• 7 years with 0 or 2 years grace period for payment of the principal.
  
• 10 years with 0 or 3 years grace period for payment of the principal.
  
• 12 years with 0 or 3 years grace period for payment of the principal.

Interest rate:

• Tranche I:  Self-employed and SMEs :
  
  
  • Fixed, in accordance with fortnightly quotation of ICO plus 1.15%.
    
  • Variable, (Euribor 6 months + differential), in accordance with fortnightly quotation of ICO, plus 1.15%.
    

• Tranche II: Medium size and other companies.
  
  

  • Fixed, in accordance with fortnightly quotation of ICO plus 1.50%.
    
  • Variable, (Euribor 6 months + differential), in accordance with fortnightly quotation of ICO, plus 1.50%.
    

Maximum amount. Up to 100% of the project will be financed:

• Tranche I: Self-employed and SMEs: Up to 2 million euros, per customer and year, in one or more operations.
  
• Tranche II: Medium size and other companies.Up to 10 million euros, per customer and year, in one or more operations.
  

Commission: No Commission.

Early repayment:

This may be partial or in full under the following conditions.

• Variable rate: no penalty.
  
• Fixed rate:  Up to 1% of the amount to be repaid.
  

In all cases, if the repayment occurs within the 2 first years of the finance term, a commission shall be applied in proportion to the time of repayment.

Compatibility and incompatibility of the aid: This line is subject to the de minimis condition of the European Union and is compatible with the aid received from the Autonomous Communities or other institutions, within the maximum limits established as regards the accumulation of public aid established by the European Union.


This Line will be in effect until 20 December 2010 or before if the funds are exhausted