Editor’s note: This article was first published in August 2012 as news. The €96 million budget, the three loan lines, their amounts and terms, and the 40-year age limit applied to that call. Enisa’s current lines and conditions differ, and the ministry has since been renamed more than once.
The Spanish government will allocate €96 million to finance technology companies, young entrepreneurs and SMEs. The funding will come from the Ministry of Industry, Energy and Tourism and will be channelled through the Empresa Nacional de Innovación (Enisa), Spain’s state agency for innovation financing.
Enisa estimates that with these €96 million it will be able to provide participative loans to more than 750 business projects, with interest rates linked to the company’s results and no guarantees required beyond the project itself and the solvency of its managers. The funding would be divided into three lines:
1. SME line: Loans of between €75,000 and €1.5 million would be offered to projects promoted by SMEs, with the aim of improving their competitiveness and helping to create jobs. The maximum repayment period would be between 9 and 7 years.
No guarantees are required in the SME line, and the interest rate is set according to the company’s results, within a minimum and a maximum.
2. Technology-based companies line: This line will grant loans of €75,000 to €1.5 million, with no guarantees, to projects whose outcome involves a technological advance in developing new products, processes or services.
This line will have a maximum term of 7 years, a grace period of up to 5 years and an interest rate set according to the company’s results.
3. Young entrepreneurs line: This line aims to encourage the creation of SMEs through projects promoted by entrepreneurs aged up to 40, with loans of up to €75,000 without guarantees, a maximum term of 4 years, a grace period of up to 6 months and an interest rate that is also set according to the company’s results.
- How to apply for funding on the Enisa website (in Spanish)
Featured image: Luis García, CC BY-SA 3.0, via Wikimedia Commons.
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