The Government activates the ICO Export Growth line with €750 million to finance SME projects affected by the global tariff environment

The Ministry of Economy, Trade and Business, through the State Secretariat for Trade and the Official Credit Institute (ICO), has launched the ICO Export Growth line, endowed with €750 million to finance investment projects and the modernisation of the production capacities of small and medium-sized enterprises (SMEs) affected by changes in the global tariff environment.

This measure of the Recovery, Transformation and Resilience Plan (PRTR) has been designed to strengthen the resilience of Spanish SMEs with international activity, improving their access to financing. To this end, the ICO Export Growth line includes a €181 million aid component, sourced from Next Generation funds, which the ICO will channel to SMEs through two avenues: incorporating a non-repayable portion into the loans and a partial interest rate subsidy. In all cases, the aid component will comply with European Union regulations.

The ICO Export Growth programme aims to enable SMEs with international operations to implement a comprehensive strategy, including investment in tangible and intangible assets, to strengthen their current position or begin exploring new markets. This will allow for the financing of, among other things, services provided by ICEX advising SMEs on their internationalisation process or participation in trade fairs. To help SMEs design and implement a strategy that will make them more resilient in the context of tariff uncertainty, loans may include a non-repayable portion of up to 30% of the nominal amount of the transaction, with a limit of €200,000.

Characteristics of the ICO Export Growth line

The ICO Export Growth line is aimed at exporting and importing SMEs directly affected by changes in the global tariff environment, with foreign activity representing more than five percent of their turnover.

SMEs indirectly affected by the trade environment may also access this line, either because they are significant suppliers to companies based in Spain in directly affected sectors, or because they are part of global value chains.

In all cases, SMEs must have been in operation for at least four years.

The primary objective of the ICO Export Growth line of credit is to incentivise investment projects that foster the resilience of SMEs in the current commercial and geopolitical context. Under this programme, financing can be used to boost investments in machinery, facilities, and equipment, as well as in new technologies, organisational capabilities, brands, and intellectual property, among other areas. It also allows for financing a portion of working capital, always linked to the investment project.

The minimum loan amount is €50,000, with no maximum limit, and the loans offer long repayment terms of between 5 and 10 years.

SMEs interested in accessing this financing can submit their application online starting today, entirely through the ICO online platform.

Non official translation