Emprendedores

The objective of the programme is to provide the necessary financial resources to SMEs (and startups) recently created by entrepreneurs, without age limit, to address the investments required by the business project in its initial phase.

Requirements

- Be an SME, as defined by the European Union.
-You must have your own legal personality, independent from that of your partners or participants.
-Your company must have been constituted, at the most, during the 24 months prior to the application.
-Have your main activity and registered office in the national territory.
-Your business model must be innovative, novel or have clear competitive advantages.
-We co-finance the financial needs associated with your business project.
-Your equity must be at least equivalent to the amount of the loan.
-You must show a balanced financial structure and professionalism in your management.
-You will have to demonstrate the technical and economic viability of your business project.
-The accounts of your last closed fiscal year must be filed with the Commercial Registry or other appropriate public registry.
-The real estate and financial sectors are excluded (*you can consult the exceptions in frequently asked questions).

Conditions

-Minimum loan amount: €25,000.
-Maximum loan amount: €300,000.
-In order to determine the amount, the amount of equity and the financial structure of your company, among other factors, will be taken into account.
-The interest rate will be applied in two tranches:
>First tranche: Euribor + 3.75 %.
>Second tranche: we apply a variable interest rate depending on the financial profitability of your company, with a maximum limit established between 3 % and 6 %, according to the rating of the operation.
-Arrangement fee: 0.5%.
-Maturity: maximum 7 years.
-Principal grace period: maximum 5 years.
-Early repayment fee: equivalent to the amount that the loan would have accrued for the second interest tranche if the loan had been repaid in the agreed terms and the second interest tranche had been settled at the maximum rate, deducting the interest accrued on the second tranche up to the date of early repayment.
-Early maturity fee due to a change in the shareholding: In the event of a change in the majority of control of the borrower company and/or the global transfer by any title of the borrower company's assets, ENISA has the option to declare the early maturity of the loan. In the event of exercising this option, a penalty for early maturity will be established, equivalent to the amount that the loan would have accrued as the second interest tranche -if the loan had been repaid in the agreed terms and the second interest tranche had been settled at the maximum rate-, deducting the interest of the second tranche accrued up to the date of early maturity.
-Amortization of interest and principal is quarterly.
-We do not require collateral