New lines of funding for young people, entrepreneurs and innovation
- 13 October 2022
- Business Consultancy, Enterpreneur
For the past two months, the government has been implementing up to six lines of guaranteed financing that will be available to the self-employed throughout this year.
In May, the Council of Ministers approved a line of ICO guarantees for the self-employed in any sector whose expenses have increased as a result of the war in Ukraine. In addition, also through the ICO, the government is allowing beneficiaries of the Digital Kit – from September onwards, the self-employed with fewer than ten employees will be able to access it.
The last financing option launched by the government was in conjunction with the package of energy saving measures. The Council of Ministers approved three complementary lines of financing to be managed through Enisa so that the self-employed and entrepreneurs can obtain loans to start up their business or internationalize it.
How to access ENISA's lines of financing
To access ENISA funding, the entire process is carried out through its website: www.enisa.es. Projects must be located in Spain and may belong to any sector, with the exception of real estate or finance. The interest rate will be applied in two tranches. The first will be Euribor + 3.75 % and in the second a variable interest rate will be applied depending on the financial profitability of the company, with a maximum limit of between 3 % and 6 %, depending on the rating of the transaction These are the conditions of the three new lines:
1. Enisa line for young entrepreneurs
The line that the government has launched through Enisa for young entrepreneurs is aimed at newly formed SMEs (and startups) created by people under 40 years of age to address the investments required by the business project in its initial phase.
The requirements are:
- To be an SME, as defined by the European Union.
- To have its own legal personality, independent of that of your partners or participants.
- The company must have been set up within a maximum of 24 months prior to the application.
- To have its main activity and registered office in the national territory.
- The business model must be innovative, novel or have clear competitive advantages.
- The majority of the capital must be in the hands of individuals no older than 40 years of age.
- The acquisition of fixed assets and the working capital necessary for the activity is financed.
- The partners will have to contribute, via capital or equity, at least 50 % of the loan.
- They will have to demonstrate the technical and economic viability of the business project.
- They must have the accounts for the last closed financial year deposited with the Commercial Registry or other appropriate public registry.
- The real estate and financial sectors are excluded.
The minimum amount of this line will be 25,000 euros and the maximum 75,000 euros. The maturity period for which they may apply will be seven years and the maximum grace period will be five years.
2. Enisa line for entrepreneurs
The line that the government has set up through Enisa for entrepreneurs is aimed at supporting the early stages of the life of SMEs promoted by entrepreneurs, with no age limit.
The requirements are:
- Be an SME, as defined by the European Union.
- To have its own legal personality, independent of that of its partners or participants.
- The company must have been set up within a maximum of 24 months prior to the application.
- To have its main activity and registered office in the national territory.
- The business model must be innovative, novel or have clear competitive advantages.
- The financial needs associated with the business project are co-financed.
- Equity must be at least equivalent to the amount of the loan.
- You must show a balanced financial structure and professionalism in your management.
- The technical and economic viability of the business project must be demonstrated.
- The accounts for the last closed financial year must be filed with the Commercial Registry or other appropriate public registry.
- The real estate and financial sectors are excluded.
The minimum amount to be requested is 25,000 euros and the maximum is 300,000 euros. In this case, the maturity of the loan may be up to seven years and the maximum grace period of five years.
3. Enisa line for consolidated businesses
The growth line, launched by the government through Enisa, is aimed at supporting projects based on a viable and profitable business model, which are seeking a competitive improvement or a change of model in their production system, or who want to expand their production capacity by acquiring new technology, increasing their range of products/services or diversifying markets. In other words, the beneficiaries will be entrepreneurs who are contemplating for their SMEs competitive improvements, a consolidation, growth or internationalization project.
The requirements are:
- To be an SME, as defined by the European Union.
- To have its own legal personality, independent of that of its partners or participants.
- To have your main activity and registered office in Spain.
- Your business model must be innovative, novel or have clear competitive advantages.
- The financial needs associated with the business project are co-financed.
- Equity must be at least equivalent to the amount of the loan.
- You must show a balanced financial structure and professionalism in your management.
- The technical and economic viability of your business project must be demonstrated.
- The accounts for the last closed financial year must be filed with the Commercial Registry or other appropriate public registry.
- For approved loans of more than €300,000, the financial statements for the last closed financial year must be externally audited.
- The real estate and financial sectors are excluded.
The minimum amount to apply for is €25,000 and the maximum is €1.5 million. In this case, the maturity of the loan can be up to seven years and the maximum grace period is five years
