Do you need to finance your startup or SME? Find out which are the main financial organizations and the public aid and subsidies that they offer.
If you are looking to finance your startup or SME through participatory loans:
ENISA
ENISA (Empresa Nacional de Innovación S.A) has been offering, since 2004, participatory loans to promote innovative business projects.
The beneficiary companies of any of the ENISA lines access financing of between 25,000 and 1.5M euros, with long repayment terms (up to 9 years) and without any type of endorsement or guarantee.
ENISA loans are adapted to the situation and financial evolution of the company, which allows startups and SMEs to promote projects at different stages of life.
ENISA Young Entrepreneurs: Participatory loans of up to €75,000 for SMEs less than 2 years old and whose share capital is mainly in the hands of people under 41 years of age.
ENISA Emprendedores: Participative loans of up to €300,000 for SMEs less than 2 years old and certain turnover that acts as market validation.
ENISA Crecimiento: Participative loans of up to 1.5 M euros for SMEs older than 2 years that develop viable and profitable projects.
ENISA’s lines to finance your startup or SME are open throughout the year, without interruption.
If you are looking to finance your startup or SME through other types of loans:
ICO
The ICO (Official Credit Institute) offers, through a wide network of collaborating banking entities, 5 different lines of loans to finance the liquidity and acquisition of fixed assets of the companies. ICO loans have an amortization period of between 1 and 20 years and a maximum budget per company of 12.5M euros.
ICO Guarantees: For companies, freelancers, and public or private entities with credit from a Reciprocal Guarantee Society or from the State Public Limited Company of Agrarian Surety.
ICO Commercial Credit: For companies and the self-employed in search of access to liquidity through the advance payment of their invoices pending collection.
ICO Companies and entrepreneurs: For companies and freelancers that require liquidity or productive investments within Spanish territory. And for public bodies and communities of owners.
International ICO: For freelancers, companies and public or private entities that require liquidity or investment. And for both foreign and Spanish companies whose objective is to finance the purchase/sale of goods or services.
ICO Exporters: For companies or self-employed people looking for access to liquidity through the advance payment of invoices that derive from export activities or finance production costs prior to goods or services dedicated to the foreign market.
Companies can apply for an ICO loan throughout the year, without interruption.
If you are looking to finance your startup or SME through national subsidies:
NEOTEC
The Center for Industrial Technological Development (CDTI) offers non-refundable grants of up to €250,000 (€325,000 in the case of hiring doctors) to finance business plans that involve the development of their own technology, startups and SMEs, older than 6 months and less than 3 years, technology-based.
The NEOTEC Program grants do not require any kind of guarantees, and any business project can benefit from them (regardless of its technological field or sector).
The call for the Program usually comes out between the months of March or April, even May. On this occasion, for the year 2021, companies can present their projects between 05/17/2021 and 07/08/2021.
If you want to know all the details about the NEOTEC Program, and finance your startup or SME, you can consult this article.
TORRES QUEVEDO
In Spain, the Ministry of Science, Innovation and Universities annually convenes the Torres Quevedo Program to encourage, through hiring subsidies for a period of 3 years, the incorporation of personnel who have a PhD degree to the development of I projects. +D.
The intensity of the aid, which varies between 25% and 70% of the salary cost, depends on the size of the company and the type of project to be developed.
The call to apply for the Torres Quevedo program usually opens at the beginning of the year, and remains open for approximately one month. In the case of 2021, the dates for processing applications have been between 01/26/2021 and 02/16/2021.
If you want to know all the details about the Torres Quevedo Program, and finance your startup or SME, you can consult this article.
INDUSTRIAL DOCTORATES
In Spain, the Ministry of Science, Innovation and Universities announces, annually, the “Industrial Doctorates” subsidies for the co-financing of labor costs (for a period of 4 years) derived from the hiring of research personnel dedicated to the development of a doctoral thesis. that implies participation in an Industrial Research or experimental development project.
The intensity of the aid, which varies between 25% and 70% of the salary cost, depends on the size of the company and the type of project to be developed.
The call to be a beneficiary of the subsidies for Industrial Doctorates usually opens during the first semester of the year. In the case of 2021, the dates for processing applications have been between 01/28/2021 and 02/18/2021.
MISSIONS
The CDTI Missions Program aims to develop multi-sectoral and multi-technological R&D projects, capable of contributing and responding to some of the main needs of the country, such as sustainable and intelligent mobility or diseases and the needs derived from aging, among others.
The beneficiary companies of the Misiones Program receive financing for their projects in the form of non-refundable grants, with a maximum intensity of 65.75 and 80% of the eligible budget for large companies, medium companies and small companies, respectively. In any case, the minimum eligible budget per company is €175,000.
This year, the call for applications for the Missions Program remains open until 07/23/2021.
If you want to know all the details about the CDTI Missions Program and finance your startup or SME, you can consult this article.
If you are looking to finance your startup or SME through partially reimbursable aid:
RESEARCH AND DEVELOPMENT PROJECTS (PID)
The CDTI offers financing in the form of partially reimbursable loans, for those companies that carry out projects, not started at the time of the application, that imply the development of industrial research activities or experimental development for the creation and/or significant improvement production processes, products or services.
The PID Program loans, aimed at financing projects of between 12 and 36 months duration and a minimum eligible budget of €175,000, are made up of a combination of a current loan (with a fixed interest rate of 1-year Euribor) and a non-refundable tranche (TNR) of between 20 and 33% of the aid.
The CDTI offers beneficiary companies that so wish an advance of 35% of the aid granted with a limit of €250,000. The repayment terms of the loans are between 7 and 10 years, with a grace period of between 2 and 3 years.
The CDTI PID Program is open throughout the year, without interruption.
If you want to know all the details about the PID Program, and finance your startup or SME, you can consult this article.
CERVERA PROGRAM
The CDTI offers financing through the Cervera Program for small and medium-sized enterprises (SMEs),
startups and mid-cap companies (MIDCAPs) with tax domicile in Spain, with the aim of promoting the development of R&D activities in collaboration with state-level Technology Centers capable of creating or significantly improving production processes, products or services. The technological centers participating in the projects must represent a minimum of 10% of them.
Loans from the Cervera Program, aimed at financing projects of between 12 and 36 months in duration and a minimum eligible budget of €175,000, fall under the category of partially reimbursable aid and have coverage of up to 85% of the total budget.
The CDTI offers beneficiary companies that so wish an advance of 35% of the aid granted with a limit of €250,000.
The call for submission of applications for the Cervera Program usually opens during the first months of the year. This last year, the application deadlines have been between 02/01/2021 and 03/15/2021.
If you want to know more about the Cervera Program, and finance your startup or SME, you can consult all the details.
DIRECT LINE TO INNOVATION (LIC)
Through the LIC Program, the CDTI offers partially reimbursable aid, which includes a loan tranche and a subsidy tranche, with the aim of encouraging the development of applied projects, characterized by their proximity to the market and for having a medium/ Low technological risk.
The aid from the LIC Program is aimed at projects between 6 and 18 months in duration, which have a minimum eligible budget of €175.00. The maximum intensity of the aid is 75% of the total eligible project (85% in the case that the aid is co-financed with FEDER funds).
The beneficiary companies have two different options for the effective repayment of the loan: they can choose a 3-year repayment period with an interest rate that will be calculated at one-year Euribor +0.2% or opt for a repayment period at 5 years with an interest rate that will be calculated at Euribor at one year +1.2%.
The LIC Program of the CDTI is open throughout the year, without interruption.
If you want to know all the details about the LIC Program, and finance your startup or SME, you can consult this article.
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