Extend your ICO financing
For whom
For how long
Why
How
Who can benefit from the extension of ICO credit lines?
Self-employed individuals, SMEs, and companies that already have these financing agreements—which arose from the COVID-19 health crisis—may request modifications to the extension or grace period.
Keep in mind that those who received rescue or restructuring aid at the time of the initial operation or as of December 31, 2019, will not be able to join the extension of this credit line. Nor will those who have already made extension agreements for the maximum terms allowed under RD 34/2020 or RD 5/2021 (CBP) be eligible.
Maximum Financing Terms
The terms are counted from the date of the initial formalization of ICO financing and may be:
- up to 10 years for operations subject to the EU Temporary Framework 3.1.
- up to 8 years for operations subject to the EU Temporary Framework 3.2. Additionally, regardless of the extension of the term, the principal grace period of the operations may be increased.
Conditions for the Extension of ICO Lines
The modification of the extension of operations must meet the following requirements:
- The financing term can only be extended once.
- Modifications to the term of ICO lines can be processed as long as the operations are in force. That is, there is no deadline to submit the request.
- The extension can be formalized up to one month before the current loan's maturity date. This means that if an operation matures on September 15, the possible extension must be signed and formalized before August 15.
As a result of the extension of the term, all operations will be subject to one of the following regimes: the EU Temporary Framework 3.1 or Temporary Framework 3.2. The same applies to operations that are currently under de minimis, which must also adhere to one of these regimes.
Prices
If you decide to request an extension of the financing terms, there will be no change in price, unless there is an increase in the cost of the State guarantee for the entity. The repricing will depend on the specific circumstances of each operation and the accumulation of aid. If you need more information, in this documentSee PDF file you can consult a table detailing the guarantee costs according to the different terms, differentiated for SMEs, companies, or self-employed individuals.
What requirements must I meet to expand my operation?
If you already have an ICO Investment or ICO Liquidity financing line, in order to access term extensions, among other requirements, it will be necessary to:
- You, if you are self-employed, or your company must submit a request for an extension of the financing to the bank.
- Reach an agreement with your bank to extend the ICO line. This is because the extension is not mandatory and must be approved by a committee.
If your operation was covered by any of the de minimis regulations, you must also comply with the following:
- Not be subject to insolvency proceedings at the time of the initial formalization of the loan.
- Not have received rescue or restructuring aid as of December 31, 2019, or when the financing was formalized. Medium or large companies that were in crisis at those times may also not request the extension.
- Comply with the maximum aid limits established in Temporary Frameworks 3.1 and 3.2.
You can consult hereView PDF file for all the requirements.
Do you have questions? We have answers
Questions
Sí, la banca electrónica no supone ningún coste ni de alta ni mantenimiento.
Además muchas de las operaciones bancarias que hagas (como las transferencias, por ejemplo), son más baratas si las realizas a través de banca electrónica que si las haces en las oficinas. Si quieres empezar a utilizarla o saber más sobre sus ventajas, te lo explicamos todo mejor en nuestro servicio de banca a distancia de esta web.
Las transferencias en banca a distancia son totalmente gratuitas si las haces a cuentas de ABANCA. Para todas las demás tarifas, puedes consultar el documento de preciosView PDF file in a new window.
Si realizas tus operación a través del bróker online desde tu banca electrónica o app, tendrás una tarifa plana por operación, en función del volumen de la compraventa y del mercado en el que quieras operar. ¡Consulta toda la información sobre nuestras tarifas!
Muchas de las operaciones que realices con tarjetas serán gratuitas para tu tarjeta de débito. Será gratis, por ejemplo, el pago de recibos y tributos municipales, así como de impuestos de la Agencia Tributaria o de cualquier otra administración.
Para todas las demás tarifas, tanto de tarjetas de débito como de crédito, consulta nuestro documento de preciosView PDF file.
En ABANCA, las transferencias a España y a la Unión Europea en euros y no urgentes son gratis si tienes una cuenta en la que todos los titulares tengáis entre 16 y 29 años.
Además, también te saldrán gratis si las haces desde una Cuenta Clara o estás en el nivel Premium del Programa Servicios ABANCA.
Para el resto de casos, puedes consultar las tarifas vigentesView PDF file.