Overview

• Applications are open on the ICO website with fully online processing from request to notarial signing.
• ICO will lend directly rather than through intermediating banks, relying on automated checks via the tax agency, Bank of Spain, Social Security and the Mercantile Registry.
• Loans offer 5–10 year maturities with grace periods and variable pricing at Euribor plus 0.75% to 1.75% depending on risk.
• Eligibility targets growth-focused SMEs at least four years old with audited accounts for the last two fiscal years or a public guarantee, excluding startups and prioritizing intangible-heavy or sustainably leveraged models.
• The line starts with €1 billion aiming first for 8,000–10,000 firms averaging roughly €100,000–€120,000 per loan, seeks to reach about 50,000 companies by 2027, and allows cofinancing with private banks that could lower borrowing costs.