New financing lines for young people, entrepreneurs, and innovation: Enisa loans

Over the past two months, the Government has been launching as many as six guaranteed financing lines that self-employed workers will be able to access throughout this year.

In May, the Council of Ministers approved an ICO guarantee line for self-employed workers in any sector whose expenses have increased as a result of the war in Ukraine. In addition, also through the ICO, the Government allows beneficiaries of the Kit Digital program—as of September, self-employed workers with fewer than ten employees will be able to apply.
The most recent financing option launched by the Government came alongside the package of energy-saving measures. As a complement to that package, the Council of Ministers approved three financing lines, to be managed through Enisa, so that self-employed workers and entrepreneurs can obtain loans to start up their business or expand it internationally.
How to access the ENISA financing lines
To access ENISA financing, the entire application process is carried out through its website: www.enisa.es. Projects must be located in Spain and may belong to any sector, except real estate and finance. The interest rate is applied in two tranches. In the first, it is Euribor + 3.75%; in the second, a variable rate is applied based on the company’s financial return, subject to a maximum cap set between 3% and 6%, depending on the rating of the transaction. These are the terms of the three new lines:
1. Enisa line for young entrepreneurs
The line the Government has launched through Enisa for young entrepreneurs is aimed at recently incorporated SMEs (and startups) created by people under 40, to fund the investments the business project requires in its initial phase.
The requirements are:
• Being an SME, as defined by the European Union.
• Having separate legal personality, independent from that of your partners or shareholders.
• The company must have been incorporated no more than 24 months before the application.
• Having its main activity and registered office in Spain.
• The business model must be innovative, novel, or offer clear competitive advantages.
• The majority of the share capital must be held by individuals aged 40 or under.
• The acquisition of fixed assets and of the working capital needed for the activity is financed.
• The shareholders must contribute, by way of share capital or through equity, at least 50% of the loan amount.
• They must demonstrate the technical and economic viability of the business project.
• The financial statements for the last closed financial year must have been filed with the Commercial Registry or any other applicable public registry.
• The real estate and financial sectors are excluded
The minimum amount under this line is €25,000 and the maximum is €75,000. The available maturity is seven years, and the maximum grace period is five years.
2. Enisa line for entrepreneurs
The line the Government has launched through Enisa for entrepreneurs is aimed at supporting the early stages of SMEs promoted by entrepreneurs, with no age limit.
The requirements are:
• Being an SME, as defined by the European Union.
• Having separate legal personality, independent from that of your partners or shareholders.
• The company must have been incorporated no more than 24 months before the application.
• Having its main activity and registered office in Spain.
• The business model must be innovative, novel, or offer clear competitive advantages.
• The financing needs associated with the business project are co-financed.
• Equity must be at least equal to the amount of the loan.
• A balanced financial structure and professional management must be demonstrated.
• The technical and economic viability of the business project must be demonstrated.
• The financial statements for the last closed financial year must have been filed with the Commercial Registry or any other applicable public registry.
• The real estate and financial sectors are excluded
The minimum amount that may be requested is €25,000 and the maximum is €300,000. In this case, the loan maturity may be up to seven years, with a maximum grace period of five years.
3. Enisa line for established businesses
The growth line launched by the Government through Enisa is aimed at supporting projects based on a viable and profitable business model that are seeking to improve their competitiveness or change their production model, or that wish to expand their production capacity by acquiring new technology, broadening their range of products/services, or diversifying markets. In other words, the beneficiaries will be entrepreneurs who are planning competitive improvements or a consolidation, growth, or internationalization project for their SMEs.
The requirements are:
• Being an SME, as defined by the European Union.
• Having separate legal personality, independent from that of your partners or shareholders.
• Having its main activity and registered office in Spain.
• Your business model must be innovative, novel, or offer clear competitive advantages.
• The financing needs associated with the business project are co-financed.
• Equity must be at least equal to the amount of the loan.
• A balanced financial structure and professional management must be demonstrated.
• The technical and economic viability of your business project must be demonstrated.
• The financial statements for the last closed financial year must have been filed with the Commercial Registry or any other applicable public registry.
• For approved loans exceeding €300,000, the financial statements for the last closed financial year must have been third-partyly audited.
• The real estate and financial sectors are excluded.
The minimum amount that may be requested is €25,000 and the maximum is €1.5 million. In this case, the loan maturity may be up to seven years, with a maximum grace period of five years.